A bullish flag has formed on the daily chart of the USD/JPY currency pair (US dollar vs. Japanese yen). It can be used for a trend-continuation breakout trade should the price close significantly above the flag's upper border before invalidating the pattern. The flag and its pole are shown with the yellow lines. My potential take-profit level is marked with the green line. My potential stop-loss level is marked with the red line.
Trade active
Long traded opened at 114.244 at 00:00 UTC today. SL = 113.248, TP = 117.077.Trade closed: stop reached
Stop-loss reached yesterday at 14:01 UTC.
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You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
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.