Trading is all about buying low and selling high. Here on this USD/JPY technical analysis I will explain what you need to take into account if you want to enter a trade.
First of all, I want to highlight the previous idea that was incredibly successful on USD/JPY using these same principles:
In this idea it is important to note that the price is not near any horizontal zone at the moment. I suggest to wait to get a better risk reward on your coming trade.
The buy low and sell principle is all relative and defined by the current information available. I define low and high as the horizontal resistance zones.
For our short position we want to reverse the logic and sell as high as we can, in this case near the zone of horizontal resistance.
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- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
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How would you have charted this? Feel free to post a link to your own idea here as well
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