- Timeframe: Weekly chart shows RSI Divergence
- Trade Bias: Shorting opportunities favored
Analysis:
- Weekly Chart: RSI Divergence signals potential reversal
- 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry
- Combo Trade Strategy: Stretching targets for lower risk and higher returns
Combo Trade Strategy Explained:
- Definition: Trade management system to extend targets for enhanced risk-reward ratio
- Benefits: Lower risk exposure, higher potential returns
Trade Plan:
- Shorting opportunities identified on USDJPY
- Entry upon retest of 151.74 resistance level on 4-hourly chart
- Utilize combo trade strategy for optimized risk management and profitability
Additional Insights:
- Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy
- Flexibility in trading approach across multiple currency pairs
Final Thoughts:
- Market dynamics are not constrained by directional movements of specific currency pairs
- Focus on trading opportunities presented by price action and technical indicators
- Adaptability and versatility are key to successful trading in dynamic market conditions
💡 Your Thoughts?
What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below!
👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
- Trade Bias: Shorting opportunities favored
Analysis:
- Weekly Chart: RSI Divergence signals potential reversal
- 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry
- Combo Trade Strategy: Stretching targets for lower risk and higher returns
Combo Trade Strategy Explained:
- Definition: Trade management system to extend targets for enhanced risk-reward ratio
- Benefits: Lower risk exposure, higher potential returns
Trade Plan:
- Shorting opportunities identified on USDJPY
- Entry upon retest of 151.74 resistance level on 4-hourly chart
- Utilize combo trade strategy for optimized risk management and profitability
Additional Insights:
- Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy
- Flexibility in trading approach across multiple currency pairs
Final Thoughts:
- Market dynamics are not constrained by directional movements of specific currency pairs
- Focus on trading opportunities presented by price action and technical indicators
- Adaptability and versatility are key to successful trading in dynamic market conditions
💡 Your Thoughts?
What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below!
👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
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Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
www.tiktok.com/@raynlim