Hi my trading friends.
I've noticed USDJPY is in a beautiful uptrend and has been for awhile. I lost my last trade on her(I followed my rules of course), but now price made a new higher high continuing her bullish flow. Can you see the uptrend?
The entry
Price is at my Estimation Zone(my name for my zones where I want to enter the trade). I'll watch price to see if I more bullish evidence. If so, I'll trade her up back to the high and monitor if this will turn into a longer term position over a 1:2 risk-to-reward trade.
The exits
My stop loss will be placed to the low. I'll manage the trade by trailing my profits once it's back to the high if this trade is a longterm position. If not, I'll be happy with my profits and move on.
What will invalidate this trade?
If price reverses going past the last higher low I'll consider this trade a reversal. Or, at this point, consolidation depending on what happens first. If I'm given the chance to enter and am stopped out, the reversal will be taken more seriously.
Consider my trading styles:
* Swing trader
* Trend trader
* Conservative trader
* Higher timeframe trader
* Supply and demand trader
* Reversal trader
* Volatility trader
* High momentum trader
There are many trading styles which means there are many ways to trade. Only take this analysis into consideration if it meets your satisfaction and rules. If not, it's always good to watch for fellow trader entertainment purposes and give motivation.
Consider my past USDJPY post below and thanks for reading.
I've noticed USDJPY is in a beautiful uptrend and has been for awhile. I lost my last trade on her(I followed my rules of course), but now price made a new higher high continuing her bullish flow. Can you see the uptrend?
The entry
Price is at my Estimation Zone(my name for my zones where I want to enter the trade). I'll watch price to see if I more bullish evidence. If so, I'll trade her up back to the high and monitor if this will turn into a longer term position over a 1:2 risk-to-reward trade.
The exits
My stop loss will be placed to the low. I'll manage the trade by trailing my profits once it's back to the high if this trade is a longterm position. If not, I'll be happy with my profits and move on.
What will invalidate this trade?
If price reverses going past the last higher low I'll consider this trade a reversal. Or, at this point, consolidation depending on what happens first. If I'm given the chance to enter and am stopped out, the reversal will be taken more seriously.
Consider my trading styles:
* Swing trader
* Trend trader
* Conservative trader
* Higher timeframe trader
* Supply and demand trader
* Reversal trader
* Volatility trader
* High momentum trader
There are many trading styles which means there are many ways to trade. Only take this analysis into consideration if it meets your satisfaction and rules. If not, it's always good to watch for fellow trader entertainment purposes and give motivation.
Consider my past USDJPY post below and thanks for reading.
