Hey Guys! Just wanted to put up a quick Price Action Lesson on How to Read Price. I demonstrate this foundational element of reading price with a current eurjpy short trade I'm currently in. The Key point of the lesson is simply: Directional movement of price is irrelevant when it comes to reading price. What's important is "How Price Gets from Point A to...
Let's see exactly how price interacts with the rectangle, I'm betting there's a drop inside, trade with your choice of LTF bar formation.
On the monthly timeframe FX:EURJPY is showing the restest from recent breakdowns. However, one should wait for reversal.
By seeing the current price action all the way from the higher timeframes, we can predict more downside after short-term upside gains ! Relate the above chart analysis with your skill. This publishing is just for educational purpose only.