USD/JPY Move

I'm thinking about buying USDJPY.


Anyone else agree or disagree?

 

Based purely on divergence?

 

Ya, why not

I'm just looking for a few pips...we'll see

 

What time frame chart is this?

 

Not criticising you, just curious,good luck

 

I'm sorry, I didn't mean to sound sarcastic or anything

Thanks!

 

1hr chart. I used to trade on the smaller time-frame, but there's just too much noise.

 

What is your stop-loss and profit target. If you don't mind me asking.

 

Falling wedge, positive divergence, completed measured move down from sHs. Looks like a solid setup to me. I'd wait for to make sure that the most recent swing low holds, then throw a 2xATR stop on that baby, and let her rip for a solid swing. I'd take that trade on a doulbe bottom bounce from the low a couple of weeks ago.

 

I actually haven't opened a position yet, but I usually do a 50-pip trailing stop.

For me, 50 pip SL works pretty good for this time frame