AtitPatel

USDJPY Short 1st retracement

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AtitPatel 已更新   
FX:USDJPY   美元 / 日圓
On H4,

1. A key resistance level . coinciding with 50 Fibonacci retracement . Multiple rejections.
2. MA (50) being tested as a resistance

On H1

1.Divergence on the stochastic

Moreover, it can be seen that it's the first retrace in the trend, 2 more waves in the trend to go. Early in the trend so a greater reward:risk ratio.

Targets 1 and 2 as shown in the chart, will trail for the 3rd target. Stop goes 1 pip+spread above the latest high.

Stop loss will be moved to breakeven when price reaches 107.410

Thanks for reading. Happy Trading
手動結束交易:
Bullish flag on H4. It's better to close the trade with a 3 pip loss than to follow a trade with less chances of success. Won't go long here as well because that cannot be said for sure either.

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