USDJPY has an ascending triangle, but daily sticks showing weakness, also EURUSD and GBPUSD are strong on daily sticks, could develop either way, but this is possibly where the new move is going to be created.
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EURUSD and GBPUSD developed new fundamentals, watch EJ, right now ascending triangle still holds and daily now seems like UJ is testing highs, if its a clean breakout upwards, can enter position in parts, deploying 1 unit on break, then deploying 2nd unit on pullback and supported
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then on momentum confirming pullback, enter 3rd unit, when 2nd unit is deploy, but support doesn't hold, thats when the trade may not be valid anymore
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benchmark volatility around 100pips, position sizing accounting for 3 level of entries at least should be benchmarked around this value.
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alternative is wait for break out to pullback to see if support is around, if needing a more conservative strategy
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*correction for above*
alternative is wait for break out to pullback to see if support is around, if needing a more conservative strategy , then enter position on pullback
alternative is wait for break out to pullback to see if support is around, if needing a more conservative strategy , then enter position on pullback
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EJ is important as these days, it seems like EJ is driver rather than UJ or EU in EJ