PRICE ACTION SPEAKS LOUD ON GBPJPY
"Who is in control of price?"
i will ask myself this question to make sure i take the correct trades and think about the trade in more details...
what i see here according to price action its a nice bullish preceding trend that gets stuck on an area of resistance (which is full of sellers) and shows me this beautiful indecision candle or almost-dodji candlestick that indicates indecision between buyers and sellers.
i will be taking this trade at the low of the indecision candle, that way i will have some confirmation that bears want to sell and take the price down.
my risk reward? simple, 1:2.5
Good luck to myself!
i will ask myself this question to make sure i take the correct trades and think about the trade in more details...
what i see here according to price action its a nice bullish preceding trend that gets stuck on an area of resistance (which is full of sellers) and shows me this beautiful indecision candle or almost-dodji candlestick that indicates indecision between buyers and sellers.
i will be taking this trade at the low of the indecision candle, that way i will have some confirmation that bears want to sell and take the price down.
my risk reward? simple, 1:2.5
Good luck to myself!
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