Anticipating a move up to liquidity to capture stops (stop losses of sellers and buy stops for those who have been following the obvious uptrend) before seeing a price reversal.
This opportunity can be planned out as greater than 3:1 reward to risk and may be something we see across other Yen pairs due to the upcoming BOJ fundamentals.
This idea however is a low risk sell scenario based upon technical analysis.
This analysis is not meant to substitute as financial advice.
Trading involves risk, and you are responsible for the outcome if you choose to act on this trade idea.
Stay Safe!
I've personally placed a sell limit and it will be reevaluated if it has not been filled by Tuesday's IML TV Session at 12pm EST
My order details:
Sell Limit 109.900
Stop Loss of 20 Pips ~ remember to factor in broker spread etc.
This opportunity can be planned out as greater than 3:1 reward to risk and may be something we see across other Yen pairs due to the upcoming BOJ fundamentals.
This idea however is a low risk sell scenario based upon technical analysis.
This analysis is not meant to substitute as financial advice.
Trading involves risk, and you are responsible for the outcome if you choose to act on this trade idea.
Stay Safe!
I've personally placed a sell limit and it will be reevaluated if it has not been filled by Tuesday's IML TV Session at 12pm EST
My order details:
Sell Limit 109.900
Stop Loss of 20 Pips ~ remember to factor in broker spread etc.
Order avbruten:
Price already moved towards target and pending order was not filled - cancel trade