Stop Hit Pattern | Live Forex Trade | USDJPY | 1 Hour Chart

By | February 6, 2016

See attached video – This video was originally posted on July 3, 2014. This was a nice stop hit pattern that formed on the USDJPY 1 hour chart at resistance, it followed a brief stall-out that built a top on the chart. There were two opportunities to enter this trade that came a couple hours apart. The first was directly off the bearish spike candle that formed at resistance and the second came two candles later following the stall candle when the bearish engulf formed. The top was built directly above a prior bounce point but the entry was taken when the stops were hit from entries coming off the stall level. The stall created an area dense in orders. The sell off came sharply and abruptly as price fell until reaching the established support level.

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