POTENTIAL TRADE FOR USD/JPY
USD/JPY 30M - This market has recently shown signs of reversing as it has begun to trade us to the upside, breaking structure along the way. As we know a break in structure tells us that the trend usually is reversing.
In order for us to get involved in this market we want to get in on the best price, the best price would be where price pulls-back to set its first higher low. This allows us to get a really refined entry.
Once price trades us down and into this area we want to see price break structure to the upside again but this time more fractally, this will alert us that the corrective wave trading us down and into the zone has finished and the new impulsive wave is ready to be printed.
I will be holding fire, waiting patiently for price to trade into the relevant zone and deliver us with the right entry confirmation before we look to take part in this market, any questions drop me a message or comment below.
In order for us to get involved in this market we want to get in on the best price, the best price would be where price pulls-back to set its first higher low. This allows us to get a really refined entry.
Once price trades us down and into this area we want to see price break structure to the upside again but this time more fractally, this will alert us that the corrective wave trading us down and into the zone has finished and the new impulsive wave is ready to be printed.
I will be holding fire, waiting patiently for price to trade into the relevant zone and deliver us with the right entry confirmation before we look to take part in this market, any questions drop me a message or comment below.
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