USDJPY Observation (Still got room to go Up)
The pair's price has formed unwritten highs on a 1h chart .
The PNF gives a potential target at 123.75.
The correction can start of the 121.50 level, but is less likely, as a bullish market continues.
In case of a non-false 121.50 level breakout, the target is at 123.75 and SL below 121.100
I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy)
P.S. Using a small stop losses in my strategy makes them triggered quite often, however, it saves my account from wide drawdowns, and keeps my RRR positive.
The PNF gives a potential target at 123.75.
The correction can start of the 121.50 level, but is less likely, as a bullish market continues.
In case of a non-false 121.50 level breakout, the target is at 123.75 and SL below 121.100
I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy)
P.S. Using a small stop losses in my strategy makes them triggered quite often, however, it saves my account from wide drawdowns, and keeps my RRR positive.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.