USDJPY bounce off 110 area

USDJPY Day ( 5 June , 2017 )

USDJPY Bounce off 110 area + Psychological 110 level + monthly pivot MM2 Bull is target for MM4 about 114

USDJPY H4 ( 5 June , 2017 )

USDJPY open Monday on weekly pivot WM2 Bull is aiming weekly move of WM2 to WM4 110.5 to 112

USDJPY 15M ( 5 June , 2017 )

Entry time frame 15M Bull is waiting for higher high then buy at the pull back about 110.5 SL 109.5 TP 112

7 thoughts on “USDJPY Trade Plan ( 5 June , 2017 )”

  1. Kash says:

    Looks good Daniel with todays Open at Support for an entry. How did you arrive at your stop-loss price?

    1. Maryna says:

      Hey Kash, I sent a comment to Daniel about a week ago with my swing trading post and he generally uses a 100p SL for his swing-trades. Have a look at some of his other posts and you will see he mostly uses a 100p sl.

      1. Daniel Chan - Forex.Today says:

        🙂

    2. Daniel Chan - Forex.Today says:

      Thanks Kash . 🙂
      Normally I protect with 100 pips stop just incase something happen . but once the trade is moving in my favor about 100 pips or so, I put it the stop to break even and let it reach my target ,

  2. Kash says:

    Thanks Maryna

  3. Maryna says:

    Hey Daniel, did u take this trade when it went up to your entry price as it hit the SL yesterday? If you didn’t take the trade, what was your reason? I did not take the trade as I’m a bear on USD, but just interested to know if Pivot traders took this trade. Thanks Dan!!

  4. Daniel Chan - Forex.Today says:

    Yes I took the trade as a swing trader base on weekly WM2 to buy in the first candle. then it went up a bit before London open , so I move my stop to break even when I saw a rejection by weekly central WPP area. It stop me out break even . then I look for selling yen pair EURJPY and GBPJPY .

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