I going to be taking a short trade on usdjpy, i was able to catch the candle right at the top and will be riding it hopefully putting my sl in profit during london session tomorrow morning. many of you can probably tell why i took the trade and many of you know my strategy that will be the reasoning behind taking this trade, i will be taking partials on this entry...
usdjpy shorts, reason being is we had multiple confluences to take this trade:
.over extended in the daily
.expect a pullback to previous point of structure
.h4 break of structure
.h4 entry signal in the form of an evening star
we then set a sell limit for 50% of the evening star and was wicked in to go straight into profit
The bullish momentum can't end here, we need to tackle some of the higher liquidity pools before we can consider a reversal.
I expect the price to pull back into the order block region marked before continuing to the upside.
Any oversold move like this is going to attract a huge amount of sellers into the market.
I would like to see a significant pullback into the optimal buying point marked so we can lure some more sellers into the market before shooting to the upside to target some sellers stops.