WAITING FOR A BEARISH PULLBACK
USD/JPY 4H - As you can see here price has been trading us in a bullish way. I want to see price pullback to clear the inefficiency that has been left behind allowing us to get involved in longs at a better price.
By price pulling back down and into an area of interest (Demand) we are able to get in at a cheaper price which means we are able to take a larger profit from a push up and inevitably able to get in with a more refined entry as we know where price may reverse from.
We could look to go short in the market before we go long but as you all know that would be trading against the higher timeframe prevailing trend and that comes with its own risks. Remember, the trend is your friend.
We would need confirmation parameters to be met either way for both longs in the market and short positions before we look to place the positions we want to, this just gives us an added layer of protection and a higher probability of being successful.
By price pulling back down and into an area of interest (Demand) we are able to get in at a cheaper price which means we are able to take a larger profit from a push up and inevitably able to get in with a more refined entry as we know where price may reverse from.
We could look to go short in the market before we go long but as you all know that would be trading against the higher timeframe prevailing trend and that comes with its own risks. Remember, the trend is your friend.
We would need confirmation parameters to be met either way for both longs in the market and short positions before we look to place the positions we want to, this just gives us an added layer of protection and a higher probability of being successful.
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