Hello traders !
USDJPY is currently between two mass psychology levels: 135.179 & 147.728
Given that the price is between these two levels, we should be really patient and execute properly without having the FOMO (Fear of missing out) the trade.
USDJPY currently broke the ascending channel on the 4H chart and its forming a bearish flag on the 1H chart signaling more continuation to the downside.
I will be waiting for two scenarios.
SCENARIO #1:
Waiting for an inner structure reversal pattern on the 15mins chart inside the bearish flag as 3rd touch on the upper TL & execute a short + the stop loss should be above the previous high.
SCENARIO #2:
Waiting for the 1H bearish flag to be break to the downside by setting a sell stop and the stop loss should be above the previous high.
Patience is key. Look for quality trades.
#THEPRIMES
USDJPY is currently between two mass psychology levels: 135.179 & 147.728
Given that the price is between these two levels, we should be really patient and execute properly without having the FOMO (Fear of missing out) the trade.
USDJPY currently broke the ascending channel on the 4H chart and its forming a bearish flag on the 1H chart signaling more continuation to the downside.
I will be waiting for two scenarios.
SCENARIO #1:
Waiting for an inner structure reversal pattern on the 15mins chart inside the bearish flag as 3rd touch on the upper TL & execute a short + the stop loss should be above the previous high.
SCENARIO #2:
Waiting for the 1H bearish flag to be break to the downside by setting a sell stop and the stop loss should be above the previous high.
Patience is key. Look for quality trades.
#THEPRIMES