Trading idea on 1h chart:
Long USDJPY - If we can go above 20EMA
- during the period 30.12.2014-02.01.2015 a very similar setup was in place
- most important part of it for the price is to stay for at least 3 hours above 20EMA, then to run up to the last resistance (at about 119.0-119.2) and thereafter move back to the level of the low before very last lowest low
- if that level is reached, I would assume it is the first higher low after lowest low and see the 20EMA as dynamic support line
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- if EVERYTHING is in place, then:
Open Long at 118.70, Risk-Reward = 2.0,
SL@118.00 (-70), TP@120.10 (+140)
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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.
Long USDJPY - If we can go above 20EMA
- during the period 30.12.2014-02.01.2015 a very similar setup was in place
- most important part of it for the price is to stay for at least 3 hours above 20EMA, then to run up to the last resistance (at about 119.0-119.2) and thereafter move back to the level of the low before very last lowest low
- if that level is reached, I would assume it is the first higher low after lowest low and see the 20EMA as dynamic support line
_______________________________
- if EVERYTHING is in place, then:
Open Long at 118.70, Risk-Reward = 2.0,
SL@118.00 (-70), TP@120.10 (+140)
_____________________________________________________________________________
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.