PateSkpate
Short

USDJPY 60min Bearish Trend Continuation Trade (TCT)

FX:USDJPY   U.S. Dollar / Japanese Yen
This is a bearish TCT setup to get us back in the direction of the overall Bear Trend.

This trade is @ Market since we are banging up Resistance. Since we are so close to Resistance this trade gives us a good Risk/Reward.

Stops - 1 ATR above last swing high

Target #1 - Retest of Previous Lows

Target #2 - 1.27% Fib Ext
Trade closed: stop reached
Love the idea! Quick question, how do you determine what the ATR is?
Reply
PateSkpate ATraderati
Thanks man! It's an Indicator that almost all platforms have.. It stands for "Average True Range".
+1 Reply
rozela99 PateSkpate
It's great to see your trade set up. I got short this pair today in the live room. I spotted a bear Cypher. Akil, said it wasnt a pattern for him. I saw it I trade it. I dont care what he thinks lol. Good luck.
Reply
PateSkpate rozela99
Thanks man! I caught the end of the Live Room today and I think I heard that conversation.. Don't remember.. Sometimes I get busy on the LTF's and only hear bits and pieces. LOL!! I won't tell the big dog that you said that :)
+2 Reply
rozela99 PateSkpate
Lol thanks!
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