Missed 1 – USD/JPY

jpy

Price hit a resistance zone on the 4H reference timeframe. Failed to make a lower low and lower high putting an end to the prevailing short term downtrend and setting up a range. Option to either buy or sell.

JPY1 (-).png

As seen on the 3omins entry timeframe, price formed a range at the 115.2 level, the first criteria of the trigger. A crossover and break out with ADX 30 followed by a pullback into the TAZ (15/45 SMA) with previous support turning into resistance as confluence.

Failed to take the trade.

Did not trade according to the chart due to having a bullish bias, only searching for a buy signal. Missed out on the swing towards the downside.

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