USDJPY - SHORT
Why are we entering?
- Expecting JPY strength and USD weakness
- Price broke the ascending trendline = bearish
What are we waiting for to happen?
- Watch for price to move lower and create a correction
What is our confirmation?
- Break of WFB trendline once there's a correction
Entry
Safe entry: rejection of structure and break of WFB
Risk Entry 1: Rejection of structure
Once entered, where will our Stoploss be?
- above the rejected price
Where do we take profits?
- First TP: 112
- Second TP: 111
Why are we entering?
- Expecting JPY strength and USD weakness
- Price broke the ascending trendline = bearish
What are we waiting for to happen?
- Watch for price to move lower and create a correction
What is our confirmation?
- Break of WFB trendline once there's a correction
Entry
Safe entry: rejection of structure and break of WFB
Risk Entry 1: Rejection of structure
Once entered, where will our Stoploss be?
- above the rejected price
Where do we take profits?
- First TP: 112
- Second TP: 111