USD/JPY 4H - This market couldn't have played out anymore perfect, we have seen price break structure to the downside and set a new lower low. Price is now reversing to put in the correction from the area I also predicted.
I will be waiting now patiently for price to pullback up and into the area of interest I have marked out for you all, as soon as price trades into that and delivers us with entry confirmation I will be looking to get involved.
It is important that we wait for price to trade into the area of interest and allow it to deliver us with confirmation that price is ready to reverse and trade us lower longer term.
As soon as we have that I will be looking to place my short position, with my SL above the zone I get involved from, and my TP at the higher timeframe swing low, this just guarantees that our TP is achievable and it gives us a great RR return.
I will be waiting now patiently for price to pullback up and into the area of interest I have marked out for you all, as soon as price trades into that and delivers us with entry confirmation I will be looking to get involved.
It is important that we wait for price to trade into the area of interest and allow it to deliver us with confirmation that price is ready to reverse and trade us lower longer term.
As soon as we have that I will be looking to place my short position, with my SL above the zone I get involved from, and my TP at the higher timeframe swing low, this just guarantees that our TP is achievable and it gives us a great RR return.
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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.
Related publications
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.