USDPY Buy/Sell?
Indicators vs Price action
Understanding price action is key in this market, knowing were price is and what are the possible scenarios that may play out is something that comes with time. I understand why people are shorting this pair, but in reality there's no pattern for a short yet.
If you go to the HTF (hire time frame) you will see a very clear reversal pattern... and what pattern is it? inverse H&S. this tells me I'm gonna look for buys to possibles price areas were price has been in the past. 1. The wicks zone & 2. the 111.000 that completes the 3 touch pattern on the ascending channel.
Until there's a bearish break of trend line and RETEST, i would't recommend to short his pair.
Indicators lag, price action will give you the insight you need to have an edge on the market.
Trading is about probabilities & other standing were price is and what scenarios may happen. And overall risk management/capital preservation.
Patience is your biggest ally
Understanding price action is key in this market, knowing were price is and what are the possible scenarios that may play out is something that comes with time. I understand why people are shorting this pair, but in reality there's no pattern for a short yet.
If you go to the HTF (hire time frame) you will see a very clear reversal pattern... and what pattern is it? inverse H&S. this tells me I'm gonna look for buys to possibles price areas were price has been in the past. 1. The wicks zone & 2. the 111.000 that completes the 3 touch pattern on the ascending channel.
Until there's a bearish break of trend line and RETEST, i would't recommend to short his pair.
Indicators lag, price action will give you the insight you need to have an edge on the market.
Trading is about probabilities & other standing were price is and what scenarios may happen. And overall risk management/capital preservation.
Patience is your biggest ally
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