Hello my friends,
Another setup for today is USDJPY.
Today JPY pairs offer us some interesting setup to trade so we will try to capitalize all the opportunity offered
As you can see this recent movement could be marked with elliott wave marking.
We already saw wave-1 to wave-4.
I think we are going to see 1 more move to the downside which is wave-5.
Remember that wave-4 can never touch wave-1 area so based on this principle we will use that as our stop loss.
This trade offer us 2.5R opportunity so it is worth to try.
Sell USDJPY 104.00
Stop loss 104.00
Take profit 103.00 (2.5R)
RR Ratio 1 : 2.5
Use only 1-2% risk
Good luck
Another setup for today is USDJPY.
Today JPY pairs offer us some interesting setup to trade so we will try to capitalize all the opportunity offered
As you can see this recent movement could be marked with elliott wave marking.
We already saw wave-1 to wave-4.
I think we are going to see 1 more move to the downside which is wave-5.
Remember that wave-4 can never touch wave-1 area so based on this principle we will use that as our stop loss.
This trade offer us 2.5R opportunity so it is worth to try.
Sell USDJPY 104.00
Stop loss 104.00
Take profit 103.00 (2.5R)
RR Ratio 1 : 2.5
Use only 1-2% risk
Good luck
