In this 30 min chart we can see a good Elliot pattern to trade and we will see three cases to pips and profit maximization today for Intraday .
The rectangular Portion will act as pivot on 30 min char at price range 113.25-113.55 for USDJPY
Lets see how we could invest in it
Case 1 Long if USDJPY goes above square price i.e to corrective above 113.52 you could enter long trade for target @114.15 not above I am expecting .
Case 2 Short USDJPY at completion of correction @114.15 Target from their is 112.50 Stop loss 30 pips from entry
Case 3 Short if price goes below from the time call give below 113.20 you could short Target price will be same as case 1 i. 112.50
Over all pips you could grab with your intelligence is 63+163=+126 and minimum 80 Pips with this strategy
maximum Loss 30 pips.
Disclaimer: The content in this article comprises personal opinions and ideas and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability as to any loss arising from any investment based on the same.
Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved seem unclear to you, please seek independent financial advice