USDJPY looks like it is setting up for a bullish counter trend strategy. The weekly is just consolidating and has formed a triple bottom already. On the daily, our entry will be above the tenkan sen. The goal is to trade it to the Kijun Sen. To keep our risk low, we are going to trade off a 120 minute timeframe. If you would like the risk even lower than what we choose, go to a lower timeframe.
Here is the chart:
For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is …
Read More >>