EURJPY 60min Trend Continuation Trade (TCT)
EURJPY has recently broken structure to the downside. This is signaling that it's ready to start it's downtrend. I'm looking to sell this rally once price reaches my "entry zone".
Entry - I will go down on a smaller time frame and look for some sort of reversal pattern or candlestick for my entry. No matter where you enter in the zone you will get at least a 1 to 1 Risk to Reward.
Stops - Stops go above structure (shown on chart).
Target #1 - I will cover the first portion of this trade at recent lows (shown on chart).
Target #2 - I will cover at the 1.27% Fib Extension. There are many ways you can handle Target #2's. A couple of ways are: Cover at Structure (which is way down there!). You can use trail stops and just keep trailing your stop above structure and ride it as long as you can until price reverses and stops you out. However, you do it make sure it's in your trading plan and you are consistent with taking Target #2's on all your trades.
Entry - I will go down on a smaller time frame and look for some sort of reversal pattern or candlestick for my entry. No matter where you enter in the zone you will get at least a 1 to 1 Risk to Reward.
Stops - Stops go above structure (shown on chart).
Target #1 - I will cover the first portion of this trade at recent lows (shown on chart).
Target #2 - I will cover at the 1.27% Fib Extension. There are many ways you can handle Target #2's. A couple of ways are: Cover at Structure (which is way down there!). You can use trail stops and just keep trailing your stop above structure and ride it as long as you can until price reverses and stops you out. However, you do it make sure it's in your trading plan and you are consistent with taking Target #2's on all your trades.
Trade ativo
Nota
Target #1 was hit.. Holding for Target #2'sNota
Came within 3 pips of Target #2 for me.. I front run Targets by 5 pips on the 1hr chart.. Hopefully it will get back down there before stopping me out at Breakeven.Trade fechado: objetivo atingido
Trade is CLOSED. Target #1 was hit. The 2nd half of my position was stopped at Breakeven
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.