We're going for a sell attempt ahead of the news on USDJPY.
Our idea is that we sell at market with a stop loss at 146.14.
That will give us a risk to reward of 1 to 1.7 (not that great). But we will calculate our position (1% risk) based on these levels.
After the news volatility has ended entirely we will then put our stop back to where it would normally be, above the high of the last 1hr green candle, after which our risk to reward will then turn into something around 1 to 5!
Our idea is that we sell at market with a stop loss at 146.14.
That will give us a risk to reward of 1 to 1.7 (not that great). But we will calculate our position (1% risk) based on these levels.
After the news volatility has ended entirely we will then put our stop back to where it would normally be, above the high of the last 1hr green candle, after which our risk to reward will then turn into something around 1 to 5!
Trade active
Putting into break even now. One more up possible.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.