USDJPY on HTF is in a strong uptrend and currently providing us a nice correction on the 1D testing the 0.50 fib, i am expecting a swing low to form around this area and the market to make the continuation to the upside and potentially form a new higher high, on lower TF we can see how price has been in a bearish trend so far this week. During the Asian session price has consolidated inside of this small range i have identified. Looking for a sellers induction move to push price below the lows and trap bears. All inside of this area is where we will be dropping down to lower TFs with students to look for potential long entries according to our rules of this particular strategy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.