USD JPY Long Trade

Randy BalcomBlog, Trades0 Comments

Here is an example of a long trade that has great risk to reward. As you can see in the image below there are multiple trade indicators.

  1. The weekly chart is forming a doji around an area of 50% retracement from the most recent high.
  2. The daily chart is showing over sold on the MACDBB, we have a bullish candle and are entering into a Dynamic Zone
  3. The trade has a greater than 1:1 risk reward
  4. The 4 hour chart is showing signs of a bottom.

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