USDJPY 1M +5.6PIPS
Reasons for going LONG
- First of all, I saw on M5 that we just got a huge green candle, and I also saw that we got strong resistance on 118.250 key level. I imagined that we might go towards that level soon as we were going close to it
- So after I spotted that on M5, I switched to M1. I saw that on M1 we got a huge light gray candle that broke the previous high
- After that we got a blue candle with even higher volume but the body of the candle was not that big
- So some retrace came along, which would be expected as the blue candle was not very big
- The retrace failed to break the 200EMA and PA started to become bullish again
- After the retrace I switched to M5 and saw that we had a long shadow of a candle that was becoming bullish, that is where I entered as I sensed that PA was going to target 118.250
I closed before 118.250 because I wanted to play safe.
Got my target and exited!
Reasons for going LONG
- First of all, I saw on M5 that we just got a huge green candle, and I also saw that we got strong resistance on 118.250 key level. I imagined that we might go towards that level soon as we were going close to it
- So after I spotted that on M5, I switched to M1. I saw that on M1 we got a huge light gray candle that broke the previous high
- After that we got a blue candle with even higher volume but the body of the candle was not that big
- So some retrace came along, which would be expected as the blue candle was not very big
- The retrace failed to break the 200EMA and PA started to become bullish again
- After the retrace I switched to M5 and saw that we had a long shadow of a candle that was becoming bullish, that is where I entered as I sensed that PA was going to target 118.250
I closed before 118.250 because I wanted to play safe.
Got my target and exited!
1