HELLO TRADERS!
As I posted before, USDJPY reached a mass psychology (135.179 area).
We also saw that this pair formed a double top (Reversal) at 136.500 area then a clear 1H bearish flag was formed and it was the first short entry.
When the price reached the first lower TL, we saw a formation of the second bearish flag on the 15 mins chart, and that was our second entry.
The price moved again to the downside and gave us the third bearish flag (Which is the lowest quality, because the strongest one was the first bearish flag). So took the third bearish flag by being aggressive (Moved early to BE).
The three positions were closed at 134.979 for a total of 11.43%
What's the next scenario?
We might see an upside again to 136.700 area and wait for a short from there, or we might see a bigger correction one the lower TL as a bearish flag for more downside.
Remember, we do not predict the market, we react to it.
#Theprimes #Trading #Patienceiskey
As I posted before, USDJPY reached a mass psychology (135.179 area).
We also saw that this pair formed a double top (Reversal) at 136.500 area then a clear 1H bearish flag was formed and it was the first short entry.
When the price reached the first lower TL, we saw a formation of the second bearish flag on the 15 mins chart, and that was our second entry.
The price moved again to the downside and gave us the third bearish flag (Which is the lowest quality, because the strongest one was the first bearish flag). So took the third bearish flag by being aggressive (Moved early to BE).
The three positions were closed at 134.979 for a total of 11.43%
What's the next scenario?
We might see an upside again to 136.700 area and wait for a short from there, or we might see a bigger correction one the lower TL as a bearish flag for more downside.
Remember, we do not predict the market, we react to it.
#Theprimes #Trading #Patienceiskey