USDJPY - Long That Doom

(Trade this on 1Broker in my signature link for no-fees BTC-settled markets with social trading)

I like the structure on this trade in favour of a long at this level. I think a lot of traders are going to be short or are going to short a HnS formation and get taken advantage of.

Price action and volume seems surprisingly strong at a few key levels I'm looking at to make me think it's exactly that.

I also like that it's pulled back to prior daily low and prior weekly high after forming an evidently super bearish reversal daily candle during FOMC manipulation day.

Long: 110.291
Stop: 109.775
Target: 11.420
R/R: 2.19

2.19 RR is completely fine with me in a situation like this because I think I won't get stopped out very often.

Will be a public trade on 1Broker when active. You can "copy" me on the platform as well.

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Comentário:

Specifically this price action right here.

Retail traders gonna feel that pain.

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Can someone let the US Dollar know that it's a strong and independent bald eagle who don't need no Yen?

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I have lit a stick of incense for the margin that will die to this stop loss.

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This turned out okay. It dumped a lot farther than I expected and after when I expected it would, but the stop was placed well.

Closed this on the first bump since my entry was so shit and derisking is important. Will re-examine.