Here's a little scalp I did last night on the USD.JPY. It was good for a maximum of circa 60 pips.

What alerted me to this opportunity was the 'Adam and Eve' formation. This unique formation consists of a spiking first bottom (Adam), followed by a rounded second one (Eve). In this case Eve had her bottom tested , but mostly the test is of the break-line (red line).

We see now on the later chart the price action is testing the bullish Kumo for support on the 15m, however on the 1H chart it has to break through bearish Kumo. A dilemma!

So, there may be another opportunity with this once we see if support holds and higher time-frame Kumo is broken.

Regards - arco

Entry


Updated chart