wuweitrader
Long

Simple, perhaps straight-forward, trade setup

FX:USDJPY   U.S. Dollar / Japanese Yen
44 7 0
The fork has been tested (and re-tested on a lower time-frame). I am looking to get long at the lower median line parallel with a stop below the test and a price target of the median line . It has quite a nice risk/reward.
stopped out.

Post trade analysis:
With the spike (two spikes) higher and close towards the lower end, I should have moved my stop to breakeven. Although structure was not broken (we didn't close below the lower median line parallel), volatility and slop was picking up. I.e., it was starting to get a bit too messy for this 'nice simple trade'.
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Analysious wuweitrader
I managed moved my stop to breakeven.
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wuweitrader Analysious
excellent, glad it worked out
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Could you please explain your SL and TP... thanks
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wuweitrader Analysious
Sure. My stop loss is just below the previous bar that poked through the lower median line parallel. My actual stop-loss is at 101.65. My profit target is the median line. So draw a line straight up until it hits the middle line and that is my profit target. As time passes I will raise my target as it slopes upward.

Hope this helps.
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Analysious wuweitrader
Thanks Buddy...
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wuweitrader Analysious
No problem. The stop-placement must always be below some sort of structure or swing. I place mine below the low of the poke, which though not as good as being below the c-pivot (or a-pivot) was, for the type of trade, I felt good enough.

There are times that you say "How in the world did that happen?" According to my dealer, I missed getting stopped out by 1/2 a pip! So placing it correctly makes all the difference (in truth I might have still been 1-2 pips too close to the action).
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