Trading idea on 4h chart:
Short USDJPY – looking for best short entry after NFP volatility
- After last Friday’s volatility, which was positive for USD on the first glance, but ended to be negative
for the USDJPY pair, I am looking to get short with the final target at about 116.00-116.20
- I like to rejoin the trend, which is down for me now (on 4h chart), on a retracement and a pin bar of
the time frame 1 level below the time frame, which I use to determine the major trend
- here it would be the 1h chart, which gives me the entry signal
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1. There are 2 scenarios for me (see my notations in the chart), so need to wait and see
2. If stoped out (should be a really small lose there), I would get another short position at about 119.50 (again on the close of a pin bar on 1h chart) with a SL 120.10 and still going still for the TP 116.05
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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.
Short USDJPY – looking for best short entry after NFP volatility
- After last Friday’s volatility, which was positive for USD on the first glance, but ended to be negative
for the USDJPY pair, I am looking to get short with the final target at about 116.00-116.20
- I like to rejoin the trend, which is down for me now (on 4h chart), on a retracement and a pin bar of
the time frame 1 level below the time frame, which I use to determine the major trend
- here it would be the 1h chart, which gives me the entry signal
_______________________________
1. There are 2 scenarios for me (see my notations in the chart), so need to wait and see
2. If stoped out (should be a really small lose there), I would get another short position at about 119.50 (again on the close of a pin bar on 1h chart) with a SL 120.10 and still going still for the TP 116.05
__________________________________________________________________________________________________________________________________________________________________
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.
