Symmetrical Consolidation in USDJPY.
Updated
Hello Traders!
1. We have a symmetrical consolidation pattern in USDJPY on multiple tfs.
2. The consolidation appears to be more bullish than bearish.
3. PNL has been set for entry and stop levels. Stop levels may change in case stop level gets hit before the entry is done.
4. Always take a slight buffer when going towards buy side since there is pip difference in buy and sell prices.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
1. We have a symmetrical consolidation pattern in USDJPY on multiple tfs.
2. The consolidation appears to be more bullish than bearish.
3. PNL has been set for entry and stop levels. Stop levels may change in case stop level gets hit before the entry is done.
4. Always take a slight buffer when going towards buy side since there is pip difference in buy and sell prices.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
Note
Updated entry and protective stop.Order cancelled
Note
Like I said, the scenario looks more bullish than bearish.
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