Pending Long on USDJPY: Entry - 135.125 SL - 134.375 (75 pips) Final TP - 140.25 (512.5 pips)
Reason for the trade: 1. Key level of 135.16 (monthly) 2. Recent bullish trend, now forming a solid pullback 3. 200EMA daily lining up as support
Looking at a nice 6.8R for final target area, but would look to close 25% at 50 pips, another 25% at 100 pips (moving SL to BE) and the will see how things look if a counter trend trade is on, or if to hold to target.
Trade closed: stop reached
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SL hit for -0.5%
Comment
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Trade was entered too early/not a wide enough SL, would now be running 150 pips in profit
That’s impossible for UJ to signal a buy it’s obvious that how it’s clearly showing you a bearish engulfing candle but hey be careful manage it at your risk! Have a good day! 🙂
ChartL
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@Jesusisking12, nothings impossible but too early for a pullback buy in this instance, managing risk as always, all the best, cheers
Unless you just don’t know how to read the charts it didn’t even breakout the bearish trend yet
ChartL
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@clemonstony, it's called a reversal play, also mate didn't realise there was only one possible way to read the charts but cheers, will keep an eye on your charts to see how it's done
RareLeevi
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Why are you giving false info
ChartL
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@clemonstony, no info being given here, only a possible idea i had