USD/JPY SHort Win Trade
I spotted signs of Wyckoff.
Wyckoff Schematics Markup on the 15 min time frame.
After a long buying activity on USDJP, the Price reaches a resistance area. ( a bearish order block on the higher time frame )
With patience, the price finally began its markdown after being carried over from the weekend.
Price retrace to support now turned resistance on the schematics ( the neckline ) creating another entry after breaking structure to the downside,
creating a lower low, and now an expected lower High.
The fibs tool was used to find 50% of the move. I would make my entry at 50% of the fibs and use the fibs to take profit levels, with
stop-loss above the 78.6% area on the fibs.
Happy trading
I spotted signs of Wyckoff.
Wyckoff Schematics Markup on the 15 min time frame.
After a long buying activity on USDJP, the Price reaches a resistance area. ( a bearish order block on the higher time frame )
With patience, the price finally began its markdown after being carried over from the weekend.
Price retrace to support now turned resistance on the schematics ( the neckline ) creating another entry after breaking structure to the downside,
creating a lower low, and now an expected lower High.
The fibs tool was used to find 50% of the move. I would make my entry at 50% of the fibs and use the fibs to take profit levels, with
stop-loss above the 78.6% area on the fibs.
Happy trading