FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
121 5 15
Looking at the inverted hammer on the daily chart with todays             open above the Friday close I can see this as a short term reversal opportunity for a long entry trade. Watching the hourly chart for an entry. Entry on reversal pattern or break of trend line . (I've taken small position now keen to get the week started. :) )
Comment: double will add 2nd target if I get an entry on this.
Comment: For better or worse trade active with 2 targets. (Low conviction as resistance level of double bottom is not a major level)
Comment: profit take position 1. position 2 even. Trend in place and advancing rate.
Comment: Risk off. manually taken profit on position 2. May look to go long at retracement, will update in a new post if position taken.
Trade closed.....
stop moved to in front of entry for positive trade exit now. Trail the 50ma on 1 position.
Reversal around 107.00 area
tst PRO MassivePips
yeah probably right, I need a close above the 50ma.
nice chart!
+1 Reply
tst PRO MarlyForex
Thanks, much appreciated .
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