NZD/JPY strong sell off after M Formation -Thanks to Smart Money

Initially, NZD/JPY formed an Ascending triangle.

We had 1 Confirmed break above, showing upside was coming.

However, it was a fake out and a shakeout.

Fakeout in a way that it spooked the buyers as the price went out.

Shakeout as in Smart Money came in and sweeped liquidity (Buy side liquidity). This resulted in a major sell off...

And so, the M Formation was created.
200>21>7 - Bearish
RSI<50 -Bearish
Target 79.50

As traders it's our job to swallow our ego and move with the markets when they change trend. There is no place for ego with trading.