Bearish Alt Bat pattern for USD/JPY. Looks like a small
correction move, finally, for this pair. Be cautious as the USD
is still very strong.
Wait for a close below the 10 SMA (blue line) for a safe(r)
entry. Beware of economic data to be published tomorrow
affecting the USD, as well as any news about recent halts
of peace talks between North and South Korea.
Trade 1 (RvR ratio 1.74)
Entry: Close below 110.076 and below 10 SMA)
S/L: 110.606
T/P 1: 109.803
T/P 2: 109.431
T/P 3: 109.152
Trade 2 (RvR ratio 2:1)
Entry: Close below 109.152
S/L: 109.405 optionally 109.43
T/P 4: 108.646
As usual, scale out your profits and adjust your S/L to suit
your personal risk management profile.
Happy trading
correction move, finally, for this pair. Be cautious as the USD
is still very strong.
Wait for a close below the 10 SMA (blue line) for a safe(r)
entry. Beware of economic data to be published tomorrow
affecting the USD, as well as any news about recent halts
of peace talks between North and South Korea.
Trade 1 (RvR ratio 1.74)
Entry: Close below 110.076 and below 10 SMA)
S/L: 110.606
T/P 1: 109.803
T/P 2: 109.431
T/P 3: 109.152
Trade 2 (RvR ratio 2:1)
Entry: Close below 109.152
S/L: 109.405 optionally 109.43
T/P 4: 108.646
As usual, scale out your profits and adjust your S/L to suit
your personal risk management profile.
Happy trading