In this chart we're taking a look into the 4Hrs chart of EURJPY.
My first trade idea on EURJPY didn't workout as I had anticipated, So I didn't enter the trade because it didn't present entry setups that I normally look for.
Now we can see the structure that is in a drop phase with a pullback to the level which was previously a liquidity level. Now what I am expecting here is for price to go around that level to confirm and collect orders that are left hanging around that area. The structure has been broken a couple of times to the down side, leaving us with an Institutional Trap Zone which gives out an idea of what the possibilities of where price might be going from here on. Remember this is just a trade idea and should I decide that I'm going to participate on this trade idea I will use proper risk management and wait for a proper confirmation structure
Now we can see the structure that is in a drop phase with a pullback to the level which was previously a liquidity level. Now what I am expecting here is for price to go around that level to confirm and collect orders that are left hanging around that area. The structure has been broken a couple of times to the down side, leaving us with an Institutional Trap Zone which gives out an idea of what the possibilities of where price might be going from here on. Remember this is just a trade idea and should I decide that I'm going to participate on this trade idea I will use proper risk management and wait for a proper confirmation structure
