The USDJPY recently put in a beautiful rising channel right into a previous level of structure resistance...and it failed. Now that we've broken the simple pattern 7 the previous level of structure, there's a chance that we can continue going higher & a pullback trade would be an excellent place to get involved prior to the move.
Something to keep in the back of your mind however is that although there is a smaller structure zone above that would make a good place for target, we are technically trading within the higher timeframe structure zone.
For more on this trading opportunity please check out the youtube video "Learn to Trade - Small Differences in Good vs. Great Trading Opportunities" around the 5:15 mark
I hope you guys have a great week of trading.
Your Trading Coach - Akil
Something to keep in the back of your mind however is that although there is a smaller structure zone above that would make a good place for target, we are technically trading within the higher timeframe structure zone.
For more on this trading opportunity please check out the youtube video "Learn to Trade - Small Differences in Good vs. Great Trading Opportunities" around the 5:15 mark
I hope you guys have a great week of trading.
Your Trading Coach - Akil
"The Trading Coach Podcast" - Available on your favorite podcasting app!
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anchor.fm/thetradingcoachpodcast