USDJPY - 10th November, Possible Next Move
After a clear break of structure (BOS) we take a look at crucial levels such as the 71% retracement area, imbalances made in the BOS movement and supply zones.
Since the market just made equal highs, it is possible that stop losses remain above this price area and for that reason we are not going to trade on this level but in the supply zone above.
For further confirmations we will use the 15 minute timeframe to see a break of structure.
For the main analysis we used the 1H & 4HR timeframe.
Regards,
PRFX Team :)
Since the market just made equal highs, it is possible that stop losses remain above this price area and for that reason we are not going to trade on this level but in the supply zone above.
For further confirmations we will use the 15 minute timeframe to see a break of structure.
For the main analysis we used the 1H & 4HR timeframe.
Regards,
PRFX Team :)
Trade closed manually:
Close partials with +31 pips.