Aloha! Here is a missed opportunity at the beginning of the week. I had one trade open on EURUSD L that closed for 1.5%. Focusing on that trade distracted me from a USDJPY S, regardless, here is how I was looking at:
I saw a wedge pattern where price is squeezing and since we are coming from a massive move on march 26 and 27, This could be a continuation and completion of a pattern that is correcting. Overall, a consolidation, squeeze and a continued move downward. Beautiful price action with a probable 3%+ trade.
15min - 50 ema being rejecte and consolidating.
1hr - squeezing/correcting in a asymmetrical wedge if that's a thing and slight pull back to kiss the 50 ema.
4hr moving down into pattern with a bear run, continued play with it.
44 pip stop.
I saw a wedge pattern where price is squeezing and since we are coming from a massive move on march 26 and 27, This could be a continuation and completion of a pattern that is correcting. Overall, a consolidation, squeeze and a continued move downward. Beautiful price action with a probable 3%+ trade.
15min - 50 ema being rejecte and consolidating.
1hr - squeezing/correcting in a asymmetrical wedge if that's a thing and slight pull back to kiss the 50 ema.
4hr moving down into pattern with a bear run, continued play with it.
44 pip stop.
