USDJPY Outlook 2/21
Actualizado
Overall bearish outlook on UJ, if structure gives short term buy signals, there may be buy opportunity early next week into continued sells.
Nota
UJ Long IdeaExpectiing price to return to novice zone after breaking strucuture. smaller timeframe has shifted externally and internally.
Risks:
Small timeframe buy in a higher timeframe bearish trend.
Entry is at asia low liquidity (however asia highs and lows appear protected for JPY pairs)
Profit target is the asia high within novice zone
Nota
Trade active. 2/21 is a US bank holiday. low volume. Nota
Added to position with tight stop due to shifts on 1 minute timeframe. Nota
Initial positions stopped out at mitigated SL. re-entered with tight SL Nota
Last try on UJ idea. Do not like how many times i re-entered this trade. next time just let original entry and risk play. Nota
UJ shifted externally off POI. Watching for internal shift, most likely will be bullish during Asia session.Risks: There is an imbalance void below this POI, idea is that price will clear upside liquidity before filling it, however price could chose to clear this instead.
Nota
UJ short idea
Structure fulfilled
POI fulfilled (RTO)
Liquidity fulfilled
Protocol fulfilled
Trade justified
Operación activa
Trade active
Operación activa
1st TP hit Nota
Price is ranging, SL moved to above structure. Operación cerrada: precio stop alcanzado
Nothing lost here as you hit prop trading challenge profit goals.
However SL placed prematurely. Wait for a mitigation and a break of structure before placing stoploss. Your first take profit is what gives you the leeway to let price breathe.
Trust in your analysis until it is invalidated.
Let the algo show you its hand.
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