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Swing Trade Idea on USDJPY

November 6, 2018

 
The US Congress Elections are in full force... as expected the USD gained prior to the event and during the elections, but this has allowed price action to create solid patterns across multiple pairs which indicated, at least to me, that the USD will weaken. 

 

I'm in this trade since today and just added a new sell trade right at the top of the 3rd higher high. - A pattern I just LOVE trading. 

 

It seems that we have a rising wedge on USDJPY's 4H chart and that means that the bears should be coming out to play. 

 

I love combining fundamental events with technical analysis, it always made me the biggest returns. 

 

I am looking to bank 180 pips on this setup while risking 40. - My risk/reward is good, if it works out of-course.

 

Here's the 4hour chart on USDJPY:

Not much more I can add in here, make sure you checkout my post about the US Congress Elections, just click here, I released it about 2 or 3 hours ago. (lost track of time)

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