Hi traders,
here on USDJPY we just broke above an important daily structure level, the next level would be near to 114 flat. With that being the case, i want to be involved only in buying opportunities; recently in 1hr chart we had a good double bottom and after that price broke that to the upside, signaling also in this timeframe a bullish tendency.
A 2618 is a technique developed by Jason Stapleton used after a double top or bottom broke to the upside or downside. After the broke we are going to wait for a .618 retracement in order to hop on the trend.
Stops below lower low, first target at the retest of the highest close, second target for the long run.
If you have any comment, please do underneath.
Otherwise, see you in the next chart.
here on USDJPY we just broke above an important daily structure level, the next level would be near to 114 flat. With that being the case, i want to be involved only in buying opportunities; recently in 1hr chart we had a good double bottom and after that price broke that to the upside, signaling also in this timeframe a bullish tendency.
A 2618 is a technique developed by Jason Stapleton used after a double top or bottom broke to the upside or downside. After the broke we are going to wait for a .618 retracement in order to hop on the trend.
Stops below lower low, first target at the retest of the highest close, second target for the long run.
If you have any comment, please do underneath.
Otherwise, see you in the next chart.
Trade active
Trade closed: target reached:
First target hit! Second position moved to break even
Trade closed: target reached:
Second target hit! +300 pips of profit!
