EUR still has weakness behind it, and JPY has pushed fairly significantly higher on the day. When I got to this chart, it had pushed to new lows, and was sitting at levels it hasn’t been at since late 2016. On the hourly chart, this was in a nice low-base pattern, and, going back to 2016 for the next support/my target level, the R:R was almost 3, so I put entry signals here.
Entry – 114.522
Not long after setting my entry order, price pushed lower, triggering me into the trade.
| Entry Order Level |
|---|
| 114.522 |
| Stop Loss Level |
| 114.92 |
| Target Level |
| 113.507 |
Exit – 114.938
Price reversed, and moved up enough to stop me out overnight.
