USDJPY ! Resistance action, short trade idea.
USDJPY is trading swing high levels as Japan's central bank talks about taking notice.
At point 1, price makes a swing high and sells off sharply afterwards. This is when most trades will start noticing the level and they are prepared to sell when price comes back.
At point 2, price is approaching the level again but turns ahead of the line. Many traders have missed this entry and are probably very frustrated – you can be sure that next time price comes back, they will enter more aggressively. Sure enough, price breaks through the resistance level
At point 3 and all the traders that have missed the entry at point 2 and who now entered early are caught on the wrong side.
At point 4, price again respects the resistance level to the point
At point 1, price makes a swing high and sells off sharply afterwards. This is when most trades will start noticing the level and they are prepared to sell when price comes back.
At point 2, price is approaching the level again but turns ahead of the line. Many traders have missed this entry and are probably very frustrated – you can be sure that next time price comes back, they will enter more aggressively. Sure enough, price breaks through the resistance level
At point 3 and all the traders that have missed the entry at point 2 and who now entered early are caught on the wrong side.
At point 4, price again respects the resistance level to the point
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.