USD/JPY, 4 hour chart, a great buy signal

Strategy Collected from: FSR
Strategy no: Simple #1
Trading platform: MT4
Currency pair: USD/JPY
Time frame: any
Indicators: 5 & 10 EMA, Stochastic (14,3,3) & RSI (14)


A buy signal generates when 5 EMA crosses above of 10 EMA with stochastic heading upwards & not in overbought position and RSI is above 50. I've missed the opportunity yesterday. See here...

I've pointed out the points where the rules applied. Every indicator has given a good entry signal. What should be our target here regarding gaining profit. Before entry, we should work out all of this. First, what is the market condition? How much profit do we want?

Let us see again in the above picture but with some more modification below to understand what I'm going to say.....

Look, thick yellow line.... It's the support line. I've left the resistance line for you.... So the market is moving sideways....Look, the price has given buy signal just after it has bounced off of the support line. And it's moving towards the resistance line. So TP should be at that level. Or we can take a portion of the position and keep the rest to see if any breakout is going to happen or not. But as the holidays ahead along with forex weekend, breakout is unlikely.....

I'm giving my opinion from a learner's view. So I might be wrong. And again, I'm not considering the news event here...