Trading Plan for the USD/JPY
I'm by no means a pro trader, just learning as I go and trying to implement so feel free to add to my TA, or offer any sort of commentary.
I try to map out the previous price history (see the levels)
Get an idea of how it responded (breakdowns, consolidations, re-tests, bottoms, tops, traps)
See how price momentum is slowing down.
Looking for it to form a bottom, break out to the upside, quick re-test (may not pull back at all)
Target below the 50ma on the 1 hour. (or when deceleration kicks in)
I try to map out the previous price history (see the levels)
Get an idea of how it responded (breakdowns, consolidations, re-tests, bottoms, tops, traps)
See how price momentum is slowing down.
Looking for it to form a bottom, break out to the upside, quick re-test (may not pull back at all)
Target below the 50ma on the 1 hour. (or when deceleration kicks in)
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