020120-020120 USDJPY LOSS

Pattern Formation

As you can see. The pattern was formed at a long term hourly resistance zone, which I thought would make the chance of success stronger. Also at the same time, the lead currency USD, was also in uptrend.

Hourly Trade

Upon closer look, it is not a nice pattern to sa the least. Despite USD strengthening, the trade failed. There is nothing much to read into it.