USDJPY ON A SELL
this pair have a selling oportunity with a very good risk to reward ratio, DUE to the following confirmation
1. fib retracement
on the last fib drawn, the pair is on a have reached a retracement level of between 50% and 61.8% at the price 155.165
2.formation of a SWINNG HIGH at H1, 30min & 15min timeflames
which seams to be the best entry position consideting the ABCDs of FIBS and C being the enty
3. Having 3 touches on the trendline
a valid trendline have been formed with 3 touches
4. Formation of the FALCON falling wage
HENCE
We have a great entry and we will set our SL to 155.451 if we want to go in agressively risking about 27 PIPSwhich is small compared to the reward we are looking forward to get at a TP price of 152.961 making a total of 221 PIPS with a RRR of 1:8,
BUT if we want to play it safe we can put our SL at 155.719 just a little bit above the retracement FIB of 61.8% with the same entry at current price 155.177 diving to a TP price of 152.961 making a total of 221PIPS with a RRR of 1:4
Ciao @LusanexFX
this pair have a selling oportunity with a very good risk to reward ratio, DUE to the following confirmation
1. fib retracement
on the last fib drawn, the pair is on a have reached a retracement level of between 50% and 61.8% at the price 155.165
2.formation of a SWINNG HIGH at H1, 30min & 15min timeflames
which seams to be the best entry position consideting the ABCDs of FIBS and C being the enty
3. Having 3 touches on the trendline
a valid trendline have been formed with 3 touches
4. Formation of the FALCON falling wage
HENCE
We have a great entry and we will set our SL to 155.451 if we want to go in agressively risking about 27 PIPSwhich is small compared to the reward we are looking forward to get at a TP price of 152.961 making a total of 221 PIPS with a RRR of 1:8,
BUT if we want to play it safe we can put our SL at 155.719 just a little bit above the retracement FIB of 61.8% with the same entry at current price 155.177 diving to a TP price of 152.961 making a total of 221PIPS with a RRR of 1:4
Ciao @LusanexFX