I’m looking at a rising wedge type of pattern forming here on the USDJPY that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move.
I’ll be looking for short opportunities on this pair in the Live Trading Room, but we might want to keep out eyes on the 8:15 ADP number as we are still looking at a very bullish dollar.
This is my last active trading day for the week as I’m headed out of town but I didn want to leave you guys with a short video titled “How to Grow Your Trading Account” Here’s the link Here's the link to my youtube video "How To Grow Your Trading Account" here’s the link.
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Colleague of main early morning asked myself what about short idea on USDJPY - there is strong resistance zone. My belief is if price is knocking to often - finally someone will open the door - so made such picture :)
OsamaAbouzeid
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I am waiting for the completion of ABCD pattern at structure level
Akil_Stokes
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that would be very nice as well, thanks for the heads up,
RCP
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Nice opportunity, however I see bearish gartley at this resist zone.
Akil_Stokes
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Nice, bearish works, maybe we'll both get the chance to ride it down using different tactics. That would be sweet
technicaltrade
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I think the best strategy in forex is breakout trading! what u think?
Akil_Stokes
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I think the best strategy is whatever works the best with the individual traders personality. With so many ways to be successful I have a hard time calling anything the best. Rather it's more about what works best for the trader
Colleague of main early morning asked myself what about short idea on USDJPY - there is strong resistance zone. My belief is if price is knocking to often - finally someone will open the door - so made such picture :)