USDJPY - Range trade
Aggiornato
-Prices has respected my consolidation zone (Zone 2)
-Prices look bullish still on Weekly Chart and it shows a simple correction, however, said correction shows ChoCh and hence bearish bias in Daily chart
-Prices are driving towards the Zone 1: resistance-turned-support zone (as marked by the circles).
-Whether it will continue to go down or finish the correction and resume the weekly trend up, I expect prices to range between Zone 1 and 2. I am thus trading this range.
-Tight SL below Zone 1, Buy limit within same zone.
-Prices look bullish still on Weekly Chart and it shows a simple correction, however, said correction shows ChoCh and hence bearish bias in Daily chart
-Prices are driving towards the Zone 1: resistance-turned-support zone (as marked by the circles).
-Whether it will continue to go down or finish the correction and resume the weekly trend up, I expect prices to range between Zone 1 and 2. I am thus trading this range.
-Tight SL below Zone 1, Buy limit within same zone.
Nota
Daily Chart. Here is a clearer view of said zones and circles points:
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