fxstudent299
Long

Long USDJPY – false breakout trade?

FX:USDJPY   U.S. Dollar/Japanese Yen
As Market likes to trick people and after the break of 117.25-117.40 the only logical direction would be down, there might be the last trick to get the final weak shorts out before the final down move in the second half of the weak

Similar to my EURJPY             idea, I try a false breakout trade
_______________________________
I did place a a limit buy order at 117.05, Risk-Reward = 5.0
SL@ 116.8 (-25), TP@ 118.30 (+125)

When SL is triggered, the brave ones, might short with TP at 116.10, but I believe there is one more move up to let the break-out traders suffer
_______________________________________________
Disclaimer: There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
SL moved to 117.10
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out