Trade # 27: USD/JPY Long

I am taking a quick long trade @ 101.86, stop @ 101.35. My target is 103.75.

On the 1h chart above, you can see that price has formed a mini Cup & Handle pattern, and is breaking above this level. It is also breaking above the first resistance trendline. I think a double-zigzag is forming from the Oct. 10th low, so I will sell if price gets to the next resistance trendline, around 103.75.

1 comment:

aditi said...

For earning good returns in forex it is must that traders are having good knowledge about the market. They can learn by attending webinars of epic research also