Dear Trading Idea Traders

Last week was a week marked by travel for me. I had a really inspiring trip to France and I enjoyed the sunny spells as much as I could. Now, I am back to London and the week is going full-throttle for me. Today I had a small long trade in the DAX initiated by an intraday signal, that I am showing in my trading course. There was no trading idea from the DAX daily, that’s why I kept my position small.

The last trading idea that I shared with you just before my trip to France was in EUR/GBP. As you have seen, the position has been stopped out with a small loss of only 65 pips.

Today’s trading idea is coming from another currency pair- USD/JPY. The pair is in a multi-year bullish trend. On the daily timeframe, there is a signal from today’s and yesterday’s candlestick formations. Yesterday, there was a pin bar (or a bearish rejection candle) and today, there is a bullish-engulfing pattern. Those candlestick formations are signalling for more bullish momentum along the way. I am looking for a long entry at around 120.30. The stop-loss should be placed just under 119.40. My primary target is the level of 121.50. The second price target (depending on how price acts) is the level of 125.00.

Happy Trading,

Colibri Trader

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