USDJPY. Turning DOWN now.
Trading Criteria:
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow boxes). If you're a pattern trader or pinbar trader, this might be useful here.
Wait for the breakout of 4 hr. consolidation to take the trade. I usually aim for 100 pips or 80% of weekly ATR. I place my stop loss above/below consolidation.
*These zones, with the inclusion of price action described above, have remarkable accuracy.
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow boxes). If you're a pattern trader or pinbar trader, this might be useful here.
Wait for the breakout of 4 hr. consolidation to take the trade. I usually aim for 100 pips or 80% of weekly ATR. I place my stop loss above/below consolidation.
*These zones, with the inclusion of price action described above, have remarkable accuracy.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.