USDJPY potential Scenario

1 Jun 2020

Analysis :

• Price inside a symmetricla triangle,
  
• Price inside a range,
  
• Price is boucing several on support zone,
  
• Price forming a Pinbar with huge volume,
  
• we will favor the Bullish scenario [Without neglecting the bearish one].
  

Two Scenarios are forseen
Buy :

• Wait For Support Areas breakout Fail,
  
• Wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
  
• Initiate BUY order,
  
• Target Range top area ,
  
• SL Under Range down Area.
  

Sell :

• Wait For Support Areas breakout,
  
• wait for the price to re-test Support Area which become support area,
  
• wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
  
• Initiate Sell order,
  
• Targets ==> TP1 to TP3,
  
• SL above range top area.
  

/!\** Disclaimer**/!\
The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.

Traders! | if you like my analysis and it supports you in your trading decisions, please say it in a comment so we can manage the trade together.
Thanks.



A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
***This idea is only for educational purpose. Not a financial advice***
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