USD/JPY is now pushing into a major higher time frame level — the bottom of a volume block that acted as strong resistance last time.
Last time price came here, it got smacked down hard, followed by a lower high, textbook short setup. (As you can see in the green box)
Over the past few months I’ve learned not to jump in impulsively just because price hits a resistance level.
I need to wait for a proper setup to form — that’s when the odds are really in my favor.
This area is interesting,
but not enough confirmation yet.
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