USD/JPY 4H - AS you can see price has recently come to clear a FVG that was left over from the last impulsive wave that drove price lower. We have now seen price correct itself trading us up and into this area.
I now want to see price break down, confirming that the corrective wave trading us into this inefficiency has finished and a new bearish wave trading us lower is ready be printed.
We will get the confirmation we need one price has broken structure more fractally to the downside. I have marked out the last protected low within the corrective wave. Once we have a break here we have our confirmation.
This is because within bullish structure we break highs and protect lows, so by breaking a low we are not longer following the laws of bullishness but rather following the laws of bearishness, confirming this next bearish impulse.
I now want to see price break down, confirming that the corrective wave trading us into this inefficiency has finished and a new bearish wave trading us lower is ready be printed.
We will get the confirmation we need one price has broken structure more fractally to the downside. I have marked out the last protected low within the corrective wave. Once we have a break here we have our confirmation.
This is because within bullish structure we break highs and protect lows, so by breaking a low we are not longer following the laws of bullishness but rather following the laws of bearishness, confirming this next bearish impulse.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.