USD JPY BREAKOUT AS PREDICTED IN TWEET
This pair had started to rally last week as part of the False Breakout Reversal on the Pennant Setup. As you recall, this allowed us to capture a 3% Rate of Return on the Long Position held on that currency.
DAILY CHART SETUP & FORECAST
4 HOUR CHART TRADE SETUP
(FXCM CHART USED FOR ENTRY SIGNALS- THEY PROVIDE BEST REPRESENTATION OF THE NEW YORK CLOSE OF THE DAILY CANDLE. LIVE TRADING TAKES PLACE ON MY FXPRO ACCOUNT.)
FXPRO 4H CHART TRADE SETUP
4H CHART TRADE RESULT
However, another important aspect of this Bullish movement was the accuracy of the forecast in the Tweet I sent out that predicted that a Breakout would take place above Resistance in the days ahead, to continue this False Breakout Reversal....
This was based on the fact that the Setup on the USD JPY was exactly as explained in the Trading Manual regarding False Breakouts.
Once the Signal to start the Reversal is strong enough, it is very likely to break aggressively at the other end as highlighted in the Video below...
USD JPY BREAKOUT AS FORECAST
So whether you are a Swing Trader using my Strategies (see www.drfxswingtrading.com) or you like to hold trades for a few minutes- if you spotted this setup in time and knew the Technical Theory behind it, you would have been able to capture your trading gain in sync with your Trading Strategy.
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(M.Sc. Economics, B.Sc. Management and Economics)