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DesharedPierreJr.

Dollar/Yen Early 15minute Entry from a Daily setup

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Dolar A.S. / Yen Jepun (OANDA:USDJPY)  
DesharedPierreJr.  
OANDA:USDJPY   Dolar A.S. / Yen Jepun
Support and Resistance Trend Lines Multiple Time Frame Analysis usdjpylong 15minchart entrysetup higherhigh dailysetup
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supportandresistance trendline mtfa usdjpylong 15minchart entrysetup higherhigh dailysetup
I decided to go as low as the 5minute timeframe for an entry into this Bullish Pair. As I noticed price respecting structure creating higher highs and higher lows on the 1hour, 30min and the 15 minute time frame, I felt very confident going Long upon a retest of any support along with a reversal candlestick. After a 30 min higher high and a retest on the buy side of a strong correction trendline, I decided to go Bullish immediately. This entry is very tight considering the fact that this is a DAILY setup. My target projection is -27%. @ 138.700 of a Daily 78.6 retracement. My stop loss is beneath the prior 1H low as I notice price respecting structure @ 134.357. Risk to reward was excellent at 13.7
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