Falsebreak of downtrend after a three days sideway
Analysing Forex from The Market side & perspective.
Let us go back to our analysis last monday when USDJPY was sideway for three days and then a big red candlestick of 100 pips broke it. Many traders thought this was a start of a new downtrend movement so they opened many sell positions. As we said, do not open any positions in this pair.
Today, we have one trading position of SELL at 106.52. we open when the market is going down. No buy positions at the moement because The Market tends to form a resistance soon.
Let us go back to our analysis last monday when USDJPY was sideway for three days and then a big red candlestick of 100 pips broke it. Many traders thought this was a start of a new downtrend movement so they opened many sell positions. As we said, do not open any positions in this pair.
Today, we have one trading position of SELL at 106.52. we open when the market is going down. No buy positions at the moement because The Market tends to form a resistance soon.
