Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
USDJPY bounced off the top of the range from 82.50 to 84.50 and formed a nice bearish engulfing pattern in the four hour chart.
It’s better to wait for a small retrace to 84.20 to go short but this setup in H4 chart will be short at 84.01 with stop above 84.55.
Our target would be that trendline which shows near 83.40.
I have to note that still keep your positions tight because of crazy behaviour of the market this week.
If price went beyond 84.35 and a four hour candle closed above this level then I will close my short positions and looking for a long setup.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- How To Trade The Fractal Indicator - April 3, 2017
- How to Use Candlestick Patterns to Start Winning More Trades - March 19, 2017
- Weekly Review Strike 3.0 - December 16, 2016
Winner’s Edge Trading, as seen on: