An emergence of a divergence in the USDJPY pair in a 1H timeframe signals a potential reversal to a bullish trend . Furthermore, I could see there was an evident falling wedge pattern that could be witnessed, signaling a possible opportunity to long the position
Strategy to approach this potential long trade for USDJPY: 1) Wait for the price to break previous LH. 2) Based on the calculation of lot size of 1.13, I would place a Buy stop on breakout point at 130.518 3) Stop Loss - 129.623 4) Keeping the risk/reward ratio to 1:1, I kept the Take Profit 1 level at 131.507
Strategy once Take Profit 1 is achieved: 1) Once Take profit 1 is achieved, I will revise the Stop loss level to the previous Take Profit 1 level i.e. 131.507 for breakeven. 2) For the 2nd leg of the trade my Take Profit 2 is 132.507
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.