I'm expecting a nice trade setup for USDJPY. As of now, I'm waiting for a good signal from the structure highlighted in purple. If it breaks to the downside, then I'm expecting to trade within the blue trend-line. However if it breaks this wave structure, then a short entry setup will be valid.
If a strong bullish moves happens, then we should expect a move to the supply zone.
As always, it doesn't matter which side of the market your trading, its the strong confirmations that will tells you which side to trade...
Happy trading :)! - Abdulla
Dagangan aktif
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As we can see, a breakout of the purple structure has happened - Target is the Supply zone.
What does the structure that is surrounded by purple lines mean to you?
abdullatrader
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@HudaAli, It could be a distribution structure or a re-accumulation structure depending on how it will act. Since it broke the upper resistance line, then it was a re-accumulation as you can see.
HudaAli
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@AAlFadhala, Interesting, trading distribution/accumulation is a new technique to me. I will read about 'em. Thanks for your reply.
saadaljuhani1
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Wish you good luck and many green pips always
Regards,
Saad