TRADING BLOG EP. 3 - USDJPY, +5.37%
Today we have a winning long position to look at on USDJPY. This trade was taken in the first week of March, based off of the same system I’ve used for the previous 2 trades. Not only was I paying attention to the technical analysis, I also had good fundamentals on my side.
Playing off of the strength of the US Dollar, I was very confident in my long position. The week I took this trade, there was a few high impact USD news events, and with the geopolitical climate the Dollar has been very strong. I also was paying attention to Market Structure, Supply and Demand, and Wyckoff as a final confirmation.
A very textbook trading setup with great risk management. A nice trade to add to the journal.
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