USD/JPY the two ways to trade (long and short) logic
1. for pullback trader or people on short side will trade based on lower low and lower high formation
but price movement on down side is bit slow and steady
if price reacts on 2nd poi but,
does not break the recent (internal lower low) of 141.500
and makes higher low this make the short trade very choppy mind exhaustion
2. for long side trader price might defend the low of 141.500 well and breaks above the both POI wait for the retracement
or
let the price complete the chart pattern of CUP AND HANDLE
(well the chart pattern is just a assumption do not trade before the completion)
My Today's Learning
candle CLOSE & pattern COMPELETION is the key
but price movement on down side is bit slow and steady
if price reacts on 2nd poi but,
does not break the recent (internal lower low) of 141.500
and makes higher low this make the short trade very choppy mind exhaustion
2. for long side trader price might defend the low of 141.500 well and breaks above the both POI wait for the retracement
or
let the price complete the chart pattern of CUP AND HANDLE
(well the chart pattern is just a assumption do not trade before the completion)
My Today's Learning
candle CLOSE & pattern COMPELETION is the key
Comment:
price has followed the bullish pattern
