Potential Short on USDJPY with FIB TP & LT TP
Potential short on USDJPY emerging.
Two different trades: FIB trade and support zone trade.
FIB TP1: 106.28 (35 pips; 30%)
FIB TP2: 106.05 (60 pips; 30%)
Support TP1: 105.6 (102 pips; 30%)
Support TP2: 104.2 (250 pips; 10%)
Support TP´s targets are based on historical support zones and price/volume analysis which are not included in this chart.
Personally I gonna aim for all TP´s with initial SL for Support TP´s with 3ATR (4h) i.e. 107.6. SL will be adjusted during the trade.
Trade will be initiated when RSI moves below 60 (4h). If we see a further strong upward momentum, I gonna adjust the targets.
This is not an advice, it´s just my personal opinion.
Two different trades: FIB trade and support zone trade.
FIB TP1: 106.28 (35 pips; 30%)
FIB TP2: 106.05 (60 pips; 30%)
Support TP1: 105.6 (102 pips; 30%)
Support TP2: 104.2 (250 pips; 10%)
Support TP´s targets are based on historical support zones and price/volume analysis which are not included in this chart.
Personally I gonna aim for all TP´s with initial SL for Support TP´s with 3ATR (4h) i.e. 107.6. SL will be adjusted during the trade.
Trade will be initiated when RSI moves below 60 (4h). If we see a further strong upward momentum, I gonna adjust the targets.
This is not an advice, it´s just my personal opinion.
Comment:
Trade is not active yet
Trade active:
Push occured during Asia session; slight pull back expected.
Comment:
FIB TP1 reached
Comment:
Pull back took place as expected; afterwards the topic of Tillerson accelerated the continuation of the USDJPY trend.
Comment:
FIB TP2 reached +60pips
Comment:
Next target is 105.6 with SL 106.60. Some pull back expected, hence SL. Enjoy the ride.
Trade closed: target reached:
Congrats to all of you! Was my pleasure!