I say it all of the time. Consolidation breeds pattern formations and the USDJPY has been a perfect example of that as price makes it's way towards the "D" point of a potential Bearish bat formation. This will be the 3rd consecutive pattern formation on this pair and if it happens to fair as well as the first two i'll be a very happy camper.
I didn't expect too much movement coming into this week due to the Jackson Hole meeting that will occur in a few days, but to my surprise the markets have been pretty kind to me snagging profitable trades on the $EURUSD, $GBPUSD & $EURJPY already to start the week. The again, last week was pretty rough, so it's no shocker that the winners are back.
Anyway, good luck for any traders taking this opportunity. Consolidation doesn't last forever, but while it does, it can offer some pretty decent trading opportunities to those with trained eyes.
Akil
"Some Body Grab Me A Super NES"
I didn't expect too much movement coming into this week due to the Jackson Hole meeting that will occur in a few days, but to my surprise the markets have been pretty kind to me snagging profitable trades on the $EURUSD, $GBPUSD & $EURJPY already to start the week. The again, last week was pretty rough, so it's no shocker that the winners are back.
Anyway, good luck for any traders taking this opportunity. Consolidation doesn't last forever, but while it does, it can offer some pretty decent trading opportunities to those with trained eyes.
Akil
"Some Body Grab Me A Super NES"
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