Okay,
lets be honest, last scenario was a total desaster, but that's okay.... To be honest, my initial setup on USDJPY was this one. Because at this exact level we do have a BAT PATTERN + AB=CD + Inverted H&S.
On top of that, we are outside of the bollinger band 50 periods on daily timeframe. Plus on weekly timeframe, USDJPY just hit the lower bollinger band level, again with 50 periods.
Those confirmation are great information for a potential reversal area!
Trade with care,
PC
lets be honest, last scenario was a total desaster, but that's okay.... To be honest, my initial setup on USDJPY was this one. Because at this exact level we do have a BAT PATTERN + AB=CD + Inverted H&S.
On top of that, we are outside of the bollinger band 50 periods on daily timeframe. Plus on weekly timeframe, USDJPY just hit the lower bollinger band level, again with 50 periods.
Those confirmation are great information for a potential reversal area!
Trade with care,
PC