haronbg
Short

we might get relief rally

FX:USDJPY   U.S. Dollar/Japanese Yen
17 0 1
Is this double bottom. Maybe. Why maybe? We nee a break of the highs. Would I enter at current price. No. Why? Why to enter in no mans land. Remember going long at demand and selling at supply. What am I expecting? We might get relief rally due to Brestay vote. How will I trade? The prevailing trend is bearish , due to failed BOJ and FED monetary policy . If the price breaks the high I might try to squeeze a long trade if the market comes back to 104.80 to load big orders. Where is your target? The supply at 106.Are you going to close the position? Half and I will trail the rest. How? I keep trailing the lows formed around the 20 4H ema. IN the moment low is taken out I will close the rest!

So this is how I an thinking and trading. I have tried many techniques but some how this approach fits to my process. So basically I trade the 20 ema on the 1D, 4H

cheers

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