captain_smollett
Long

USDJPY. Potential Inverse H&S forming

FX:USDJPY   U.S. Dollar / Japanese Yen
104 1 4
An inverse Head & Shoulders to be confirmed for USDJPY             pair. This should put an end to a downtrend and raise the USD to 120s again.

Please notice I will enter only if a formation will be competing, if there is no H&S , it is a non-valid trading idea!

Would long on 108
SL: 106
TP1: 113
TP2: 116
TP3: 121
Comment: Approaching 108 figures, will buy there
Trade active: Trade activated and stopped several time. Now I'm in since 107.8. If you are in, move the trade to profitability: there are lot of bearish and bullish signals and technicals are showing 105
Comment: Slowly going up
Trade active: Closed with a minimum profitability and re-opened again with the same targets. Moved to profitability
Comment: It finally goes up. Hopefully, this IS a run I´ve been looking for
Trade active: Heading in the good direction! Potential TP1 is at 100.50
Trade active: Tooks some profits at 111.

Haven´t counted pips for the movement to be honest... From 107.63 to 111.78, how many pips would that be? =)
Trade closed manually: Covered Long at 111.800. Worked out well although the development of the H&S is under question. Have to see the pair evolution
It finally goes up! Hopefully, this IS a run I´ve been looking for
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