Fade 60mins SELL against Day and 240mins Uptrend (BUY)
OK this is one example of how we can reach the level of around 111 on USD/JPY
Right now you can ignore the sell signal on hourly chart and buy yourself into the direction of the higher Timeframe Day and 4H. Weekly and Monthly are in a sell but are moving back from oversold so this trade has a high chance to win.
As I wrote earlier I will not give SL levels so please use your own trading plans to enter if you like ... Target is around 111 but I have chosen 109.9 to be conservative enough and get filled
Right now you can ignore the sell signal on hourly chart and buy yourself into the direction of the higher Timeframe Day and 4H. Weekly and Monthly are in a sell but are moving back from oversold so this trade has a high chance to win.
As I wrote earlier I will not give SL levels so please use your own trading plans to enter if you like ... Target is around 111 but I have chosen 109.9 to be conservative enough and get filled
This is just a recommendation but you might consider to set the trade to break even pretty fast. The target stays valid and if you are stopped out at break even you could even reenter on a lower level and have more profit ratio to 110 then now.
Loss of opportunity is always better then loss of capital!!