T12 – USD/JPY

ENTRY

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Daily // 4H // 1H // 30mins

Analysis

Support & Resistance // Trend Lines & Channels // 21&50 Moving Averages // Elliot Waves // Multiple Timeframe Reference // Fibonacci Levels

get context for the set-up

Criteria

TREND on entry timeframe Determined by 21&50+C SMA if subjective (✓)

ADX>25 registered on impulse wave (✓) ADX56

Low volatility when keying order Area of value (✓)

Continuation/Correction/Consolidation/Coil Structure

Flag // Pennant // Wedge // Triangle // Rectangle

Simple Retracement [Fibonacci 50% // S&R Zone // 2150 TAZ]

Falling Rising Wedge // Complexed ABC pullback

Higher Timeframe Inside Bar

Orders

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // 50 SMA as guide

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 2R

Open: 114.2 | Stop loss: 113.5 (-70 points) | Take Profit: 115.6 (+140 points)

Remarks: Stop loss could’ve been tighter and take profit is a bit of a stretch since 115.5 might be in the way. We shall see.

If bullish momentum is strong, further take profit. There is space to run as seen on daily and weekly. The major pullback is over and impulse is continuing on long term.

MANAGEMENT

Risk Halved

Shift to Break Even

Securing xR

EXIT

download (1)

Initial Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: Seems like getting wicked out, which is unfortunate. Importance of 1%.

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