USDJPY Short continued from Sep 20
Updated
We have established that the trend has changed to a bearish trend . I will be looking to take profit at the next support zone.
Trade active
Here is what really is happening. I am in the process of modifying my current strategy to be versatile. To be able maximize profit potential with minimal exposure and drawdown. So far I have found that a Scalper's entry and a Swinger's management is ideal. At this point this trade is all technical. I will be adding a fundamental analysis in the near future to have a full perspective. My theory is simple: If we know where the pair is going for the next 3-6 months then we shall have an unlimited number of high probability scalps and swings. Thus increasing profit and compounding potential.
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Check List Identifying Structure:
A.) Weekly Supply High to previous bull open (Red) & low to previous bear open Demand (Green).
B.) Daily high & Low fib pullback min 38.2 - 78.6 (Black).
C.) Previous Day High and Low (Purple).
D.) 4 hour Support & Resistance wicks to close Minimum 3 touches.
E.) 1 hour Support & Resistance wicks to close Minimum 5 touches.
F.) 4-1 hour Trend Lines minimum 3 touches.
Trade closed manually
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