USDJPY-Weekly Market Analysis-Feb22,Wk3

If you had not read my post at the bottom, most likely you had missed the Bearish Butterfly Pattern that already gave 69pips of profit on the first target and just visually a bit shy away from its second target that has the potential to bring another 114pips of profit.

It is important that in trading, we never, ever, ever chase the trade. However, we could wait for the market to retest back to the consolidation zone in hope of forming a Bearish Bat Pattern or a Bearish Gartley Pattern for us to hop right into the trade or to have an add on of our trade.

There are three things that a trader needs to have. First He or She has to be able to read the trend, secondly, the ability to plan the trade execution and lastly to have the patience to wait for the setup to complete.