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lukasugrehelis

USD/JPY bearish stair step formation

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
lukasugrehelis  
FX:USDJPY   U.S. Dollar / Japanese Yen
6
0
H4 - bullish market, making a retracement
H1 - downtrend after consolidation indicating that a retracement has started (red line). Waiting for a retracement from the downtrend to get short

M30 - bearish stair step trade (61.8 + 1.618 inversion)
Entry - 61.8 + 1.618 inversion
Stops - above previous highs
Profit - 1.272 extension
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