This is a simple setup that I notice on USDJPY (H1)
First, there are two lines that are very obvious that I consider to be a critical hotspot. (Resistance @ 120.70 & Support @ 120.80)
120.15 is a good line to be considered as a strong support as well, but it has been penetrate twice previously.
The rest is stated clearly on my graph.
WHAT I AM GOING TO DO
1. Considering that the overall price is still bullish, I will only look for BUY opportunity.
2. BUY STOP placed @120.80 (T/P @121.10)
3. Thinking of placing another BUY LIMIT @120.00... But I am not really good at predicting a reversal...
First, there are two lines that are very obvious that I consider to be a critical hotspot. (Resistance @ 120.70 & Support @ 120.80)
120.15 is a good line to be considered as a strong support as well, but it has been penetrate twice previously.
The rest is stated clearly on my graph.
WHAT I AM GOING TO DO
1. Considering that the overall price is still bullish, I will only look for BUY opportunity.
2. BUY STOP placed @120.80 (T/P @121.10)
3. Thinking of placing another BUY LIMIT @120.00... But I am not really good at predicting a reversal...