USDJPY +100 PIP BUY 5/12/22
130.000 is a psychological whole number where price acts as a magnet. It's a significant number and it's an area where price where buyers and sellers are debating price. It is probable that price will reverse because it was heavily bought up at 127.500 (evidence: large wick). The 4H and D charts show more probable setups. It's difficult to make logical decisions on lower time frames. There are traders that try to exploit shorter timeframes. I don't think that you have good context until you flip through several charts to see what is actually happening. The higher timeframes help you achieve higher probability setups.
Stay humble and never stop learning!
Stay humble and never stop learning!
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