Nathanp7
Short

USDJPY Pattern and Zone trading

FX:USDJPY   U.S. Dollar / Japanese Yen
There is an ascending channel and appears to be a breakout and retest of the trend line and looks likely that price will continue to the downside.
I will be aiming to take a position short on this.

- Wait for a 4hr candle close below the resistance zone .
- Wait for a pullback and a retest of this zone.
- Wait for a rejection on the 1 hour or 30 min chart.
- Wait for price confirmation either an engulfing bar or pinbar .
- Sell

Let me know your thoughts or any other ideas

Thanks

Nath

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