FX:USDJPY is currently in a bearish trend. I am looking to enter the train on this trend and am planning to do so with the following:
- Daily chart shows downtrend
- Previous high touched the 0.786 retracement and reversed
- RSI has been overbough
So now my plan is to wait for price to break previous support ...
Here we see that previous structure support was broken and a lower low, lower close was formed (LLLC). I waited for the pullback and traded it, now looking for 3 take profit targets from using the fib. retracement.
Remember to roll stops to break even when ...
Here we see a trend continuation towards the D leg of the cypher pattern. We are looking for an opportunity to go long whilst we wait for the pattern to complete.
We see that price has already broken through previous structure support. If bullish candle closes above previous structure resistance, I will go ...