We last posted on the TRYJPY on March 19th after price had broken support and triggered our short position.
Since then, price moved further into profit before pulling back to retest the drawn-in pivot resistance. Price has since bounced off this resistance level and is weakening nicely.
However, we need a break and close below the drawn in pivot support level of March to inspire confidence of a continuation of this bear trend price is in.
This is again where patience, something we repeatedly talk about, comes in as patience is rewarded with high-probability entry points into the trend.
Following the breakout, we would then like to see price move towards the next round number of 20 and offer further compounding opportunities.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Since then, price moved further into profit before pulling back to retest the drawn-in pivot resistance. Price has since bounced off this resistance level and is weakening nicely.
However, we need a break and close below the drawn in pivot support level of March to inspire confidence of a continuation of this bear trend price is in.
This is again where patience, something we repeatedly talk about, comes in as patience is rewarded with high-probability entry points into the trend.
Following the breakout, we would then like to see price move towards the next round number of 20 and offer further compounding opportunities.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading