USDJPY Buttery Setup

7 May 2018

USDJPY

1.Trend broken on smaller time frames telling me counter trend is about over.
2. Break of Structure falls on 61.8 Fib retrace.
3. fib based extention from 61.8 = 1.618 which falls on overall trend high.
Butter.
from there we could have a double top reversal, or bulls can take charge and bust through resistance once again.
Total move is 90 pips.
watch smaller time frames for continuation of trend. drop more lots on each HL though trend.
We could see some consolidation considering trading day is about over for this pair.

Happy pippin -

ButterT0ast

7 May 2018

İşlem aktif

8 May 2018

Not

Pulled down to 78.6 retracement. Adjusted stop loss accordingly.
If trade ever retraces past 78.6 always pull trade out. it almost never gets better from there.

Back into profit area and i think were ready for take off !