From TradingView · · 1m 10s
Trader sets up USD/JPY long position with two profit targets
A swing trader shares their bullish setup on the dollar-yen pair with detailed entry, stop loss, and two take-profit levels.
In brief
A swing trader shares their bullish setup on the dollar-yen pair with detailed entry, stop loss, and two take-profit levels. The trader entered long at 154.377 with a stop loss at 153.690 and two profit targets at 156.266 and 156.952. Originally reported by TradingView.
Bullish momentum on higher timeframe
The trader identified upside momentum on USD/JPY based on analysis of longer-term charts, setting the foundation for a long position.
Entry after low liquidation
The buy entry at 154.377 was triggered after a low liquidation event, a common pattern where stop losses get hit before price reverses.
“The Entry was taken after the Low liquidation (as shown in the chart)”
Stop loss below major low
The stop loss is placed at 153.690 with 19 ticks tolerance, positioned below a significant low to avoid getting stopped out prematurely.
Split order with two targets
The trade is divided into two equal orders at 50% risk each. First target at 156.266 offers 2.75R, second at 156.952 offers 3.75R.
Trade now active and running
The trader confirmed the position is live with the first entry executed and the project underway.
“The project is running with the 1st Entry”
The takeaway
The trader entered long at 154.377 with a stop loss at 153.690 and two profit targets at 156.266 and 156.952.
