#USDJPY Long Ideas
@TradeYodha
(TradeYodha.com)
Analysis:
1. 10 sma is about to cross 200 sma in the Upper zone. 200sma is already in the zone
2. 38.2 retracement level
3. price is stretched, so a retracement is expected
4. RSI is nearly over bought too
Trade Execution:
0. Wait for the price to show which zone it is heading to. 10sma is in the middle of 200sma and 50sma
1. 2 Orders and 2 Targets
2. First Target 1:1 R/R based on confirmation
3. Second target will be taken on confirmation in the zone.
4. Second Target R/R is 1:2
News/Fundamentals:
May 4: JPY Bank Holiday
May 4: 4:25pm USD FOMC Member Evans Speaks
May 5: JPY Bank Holiday
May 5: 12:30 USD Trade Balance
I would love to hear your opinion, feel free to agree or disagree in your comments. Please give it a (thumsup) if it makes any sense.
@TradeYodha
(TradeYodha.com)
Analysis:
1. 10 sma is about to cross 200 sma in the Upper zone. 200sma is already in the zone
2. 38.2 retracement level
3. price is stretched, so a retracement is expected
4. RSI is nearly over bought too
Trade Execution:
0. Wait for the price to show which zone it is heading to. 10sma is in the middle of 200sma and 50sma
1. 2 Orders and 2 Targets
2. First Target 1:1 R/R based on confirmation
3. Second target will be taken on confirmation in the zone.
4. Second Target R/R is 1:2
News/Fundamentals:
May 4: JPY Bank Holiday
May 4: 4:25pm USD FOMC Member Evans Speaks
May 5: JPY Bank Holiday
May 5: 12:30 USD Trade Balance
I would love to hear your opinion, feel free to agree or disagree in your comments. Please give it a (thumsup) if it makes any sense.
