USDJPY 4h/1h Buy
Updated
The criteria to fulfill
1. Clean and strong buy breach ✅
2. Weak sellers pullback with buyers holding them back ❎
3. A pullback to the buy breach line and buyer guy responsible area ✅
4. Mini seller territory formed with illusion spot ✅
5. Big boy buyer showed himself with a V-formation ✅
6. Weak test (pullback) towards the previous resistant turned current support ✅
As not all criteria have been fulfilled, the buy can be messed up by the strong sellers midway. It's not the safest to go ahead for a buy with Stop-Loss placed slightly below the recent low, and Take-Profit placed slightly below the recent high. The buy setup is valid, but one must always be careful buying against strong sellers by monitoring on the trade more actively, or even closing on the trade early if sellers get aggresive.
1. Clean and strong buy breach ✅
2. Weak sellers pullback with buyers holding them back ❎
3. A pullback to the buy breach line and buyer guy responsible area ✅
4. Mini seller territory formed with illusion spot ✅
5. Big boy buyer showed himself with a V-formation ✅
6. Weak test (pullback) towards the previous resistant turned current support ✅
As not all criteria have been fulfilled, the buy can be messed up by the strong sellers midway. It's not the safest to go ahead for a buy with Stop-Loss placed slightly below the recent low, and Take-Profit placed slightly below the recent high. The buy setup is valid, but one must always be careful buying against strong sellers by monitoring on the trade more actively, or even closing on the trade early if sellers get aggresive.
Note
One should consider scratching this trade by closing at a small loss or win now. Because the price isn't going anywhere. Can look to re-enter again for a buy if another V-formation form.
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