I guess last week’s idea on USDJPY played out pretty well. Opportunity to move stop-loss to B/E.
A good bounce on support for this USDJPY price action trade idea.
A short signal has appeared on USDJPY, the pair is trending downwards. Good slope on EMA and Kijun.
Price above cloud, Kijun and EMA slope up, 7 period RSI has bounced on 50 mark, nothing significant on the docket at close range, go long, stop loss at fractal 123.82
A second winning trade today, with a 151 pip gain on my USD/JPY long. This trade delivered near R2 profit and exited on a trailed stop. Once again the signal was good, and maybe this could have been played out to greater gain, but as I explain in my strategy I have a very tight stop once I’m over 3R gain since I never want to give back any part of it.
Low liquidity today. I reduce my risk by bringing up my stop to the Kijun level. A new fractal has formed but it is too close to price and I want to leave room to breath on that trade.