2018May15 USDJPY H4 Trend Continuation

15 mai 2018

With the bulls recently being aggressive, USDJPY has formed an ascending triangle. Price broke out of the resistance (110.036) to the upside. Thus, I see a long opportunity by placing a buy limit at 110.036 which would be a retest of the broken resistance, expecting price to hold (new support) if ever it comes back there in the near future. The stop loss is placed at 109.536 (based on ATR x 2) while take profit is 111.036. I plan to manually cancel this pending order if price goes to TP1 before getting triggered.

Trade Setup: Trend Continuation
Price Entry 110.036
SL 109.536 | SL pips 50.0
TP1 111.03600 | TP1 pips 100.0
RRR1 2.00

9 juin 2018

Note

This setup is canceled as price did not retrace to price entry before going to TP1. (May 18)