EUR/JPY Descending Wedge

POSITION: LONG
TRIGGER: 122.853
TIME STOP: 11/30/20 12:00 AM MST
SYMBOL: 123.229
TARGET: 123.229
ENTRY: BUY MARKET
TIMEFRAME: M15
PRICE STOP: 122.434
Signal Instructions

This specific signal setup comes with many different trades based on sentiment data found from fxssi.com and oanda.com. We are looking to trade in the opposite direction of the global retail trading bias each day before the London open.

The plan is to hold these trades for 9 – 12 hours when we will close them between 10:00 am and 12:00 pm Eastern time. This will give our trades to experience solid volatility as they will run through the entire London session and the peak hours of the New York session. This we will be our plan “A” in regards to risk management. Plan “B” will be to close our trades at their take profit or stop loss which will be set to the average daily range for each pair.

The average daily range for each pair that we will trade is as follows according to over a 50 week period:

AUD/USD: 72
EUR/USD: 76
GBP/USD: 100
NZD/USD: 67
USD/CAD: 89
USD/CHF: 62
USD/JPY: 71