Recap: USD JPY made some bullish progress, while ending with strong bullish wicks this Friday. It should be expected to continue next week possibly starting off with a retrace and possible retouch and continuation.
Strategy:
Red: Wait for retrace to previous high. Wait for continuation pattern on that level. Possibly Bullish engulfing candle or Morning star. Place stop loss accordingly to
price pattern
Blue: If price decides to break bullish movement and break LL. Then I will be looking for sells. Obviously with a retest or continuation pattern. Such as bearish
engulfing or Evening star
White: If price continues to move on without retracing. Wait for price to retrace or create structure which I can base of to make a trade.
*Always Risk 1% per trade and remember to be patient. Trust the process, trust your strategy
USDJPY
and trust yourself
USDJPY
Strategy:
Red: Wait for retrace to previous high. Wait for continuation pattern on that level. Possibly Bullish engulfing candle or Morning star. Place stop loss accordingly to
price pattern
Blue: If price decides to break bullish movement and break LL. Then I will be looking for sells. Obviously with a retest or continuation pattern. Such as bearish
engulfing or Evening star
White: If price continues to move on without retracing. Wait for price to retrace or create structure which I can base of to make a trade.
*Always Risk 1% per trade and remember to be patient. Trust the process, trust your strategy
USDJPY
and trust yourself
USDJPY