Current Trade - USD/JPY

I am currently in a long trade of USD/JPY that I entered about 20 minutes ago. I thought it would be good to share with my readers how I decided to take this trade. It all starts with the current Headlines which I monitor very closely. About 30 minutes ago I saw the following appear in the Headlines:


Once I see a headline like this I click "More" to find-out what trade they think should be made as well as any associated Target/Stop with the trade.
From this I can see that they are suggesting to go long at 104.40 with a target of 105.95. The stop is what really makes this trade attractive - 104.20. This means that I can enter this trade only risking 20 pips with an upside of over 100 pips! Now it's time to head to the chart.

From the chart I can clearly see that the RSI has dropped and is starting to come back up. The Candlestick patters looks like the beginning of a nice Bullish Engulfing patter at all. This is a classic example of a typical trade I will make. Low risk, high reward, and a chart that shows not just through indicators but Candlestick patterns as well that there is some strong potential for this pair to trade up.

Always remember you have to take expert advice and then verify it with your own analysis. Only then can you truly make an educated trade.