LONGS BEFORE SHORT ON USD/JPY
USD/JPY 4H - As you can see since the analysis I sent out on this pair earlier on in the week price has played out well, it looks as though its distributing preparing for that move to the downside that we have been predicting to trade into our Demand Zone.
Once we have the move down and into the Demand Zone we want to see enough Demand being introduced to flip the S&D balance and kick start the next leg to the upside, this giving us the perfect opportunity to take part in some long positions before we go short longer term.
As always its important that before we enter in on a market we are waiting for the right confirmation parameters to be met as this will ensure that our probability of being successful is high. We should also have as much confluence as possible.
Once price reaches our area of interest above I will then be preparing for the next move to the downside, we want to see enough Demand removed from the market and enough Supply to be introduced to give us the reversal trading us lower.
Once we have the move down and into the Demand Zone we want to see enough Demand being introduced to flip the S&D balance and kick start the next leg to the upside, this giving us the perfect opportunity to take part in some long positions before we go short longer term.
As always its important that before we enter in on a market we are waiting for the right confirmation parameters to be met as this will ensure that our probability of being successful is high. We should also have as much confluence as possible.
Once price reaches our area of interest above I will then be preparing for the next move to the downside, we want to see enough Demand removed from the market and enough Supply to be introduced to give us the reversal trading us lower.
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