11 Apr '21: JPYUSD Entry (4H: 2/2)
Upper and lower trend bounds from prior to acceleration of downtrend are marked. Along with X.382 (yellow) and X.236 extensions of trend from the first portion of the downtrend, these represent levels above which price is expected to break out on a bullish move. Higher TPs are based on an expected retrace of the entire, bearish trend leading up to the retrace. The more conservative TPs are based on the lower, accelerated portion of the bearish lead-in. A lower SL is shown here for a trade tolerating more risk.
Penafian
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