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Have a good weekend
1. in this USDJPY what level signal would make you long? level 1? just a bullish H4 candle even if it is smaller than prev 2 bear candles?
2. What is the reason for going long? Is this because the last two bear candles have a tweezer bottom and also a kind of buy pressure seen in one of them?
3. Why do yo play this trade although you think price may go either way?
2. CS meets SSB = the very edge of the gravitational pull.
3. 90% of the time it will go back in the trend direction. So in this case, i said i was a bear because I have fresh signs to be a bear but in reality, the upmove is still in tact and there is a very high % it will continue up. So I always like to give statistical probability the first position and not my own opinion
As for my reversal, I'm very hesitant to reverse today due to NFP.
So I'm thinking, if it goes up, I'll let it and if it stops me out then I'm out
As for the upward move, surely it is a retrecement. We have been bearish since we broke 109.032 but there is a good distance to the nearest resistance (80 pips minimum)
and I prefer to trade the direction when the price penetrate the cloud but i never understood the part related to the color of the cloud ... in the above picture the cloud is green shouldnt that mean that the price is moving up ... but that isnt happening !!