THOUGHTS ON USD/JPY
USD/JPY 4H - This is another pair I am looking at being a part of this week, firstly though we need to see price trade us down and into a relevant area of interest in order for us to get involved in this market at a good price.
I want to see price trade down, down an into the Demand Zone and from there I would like to see enough Demand being introduced in order to flip the S&D balance giving us the bullish leg we want creating the new higher timeframe correction to the upside.
In order for us to deem a valid entry we need to see price break structure to the upside after penetrating this area in price, doing this confirms to us that the correction within the higher timeframe correction has finished and the higher timeframe correction is ready to continue trading us higher.
I will keep you all posted on my whereabouts an my thoughts with the market over the course of the next few days, if I trade this market I will be sure to let you all know!
I want to see price trade down, down an into the Demand Zone and from there I would like to see enough Demand being introduced in order to flip the S&D balance giving us the bullish leg we want creating the new higher timeframe correction to the upside.
In order for us to deem a valid entry we need to see price break structure to the upside after penetrating this area in price, doing this confirms to us that the correction within the higher timeframe correction has finished and the higher timeframe correction is ready to continue trading us higher.
I will keep you all posted on my whereabouts an my thoughts with the market over the course of the next few days, if I trade this market I will be sure to let you all know!
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