I have been looking at this Symmetrical Triangle for quite a while now (that can be glimpsed by checking the disparity in the indexed pictures) and knowing Yen as a safe haven and one of my favorite currency pairs.
I am anticipating a potential breakout/breakdown from either the upper or lower diagonal trendline would be a birth of new momentum.
Here, patience is the key, there might be no "too late entry" in this setup, but there is definitely a "too early entry point". And that could trigger the psychology of chasing after the price which could eventually lead to loss.
Like I said, patience needs to be exercised here.
#currency #psychology #fx #fxtrading
I am anticipating a potential breakout/breakdown from either the upper or lower diagonal trendline would be a birth of new momentum.
Here, patience is the key, there might be no "too late entry" in this setup, but there is definitely a "too early entry point". And that could trigger the psychology of chasing after the price which could eventually lead to loss.
Like I said, patience needs to be exercised here.
#currency #psychology #fx #fxtrading