Here on the yen we have a Bearish ABCD Pattern. Price Rocketed up to the completion point. now we will be keeping an eye out for what the RSI will do we are looking for a test of the 50 line and then return to the extreme. when it does we enter when the RSI is on its way out of the extreme again!
okay, so here we were able to catch this trade. we entered the Euro/USD trade too but we did a rookie mistake and closed the trade early. let our emotions take over. I have to remind myself that is why i set stop-losses. Either way this trade is still active. So you will see two trendlines. one aggressive and one not so much. these trend lines are for trade management purposes only. So, if price breaks the aggressive trend line BEFORE it hits the .382 of the pattern you move your stops to BE and take half profit and if PA breaks above the not so aggressive trend line close out the trade for a little win or little loss.
When i say break i mean CLOSE above.
But trade is still holding strong!