Wedge on USD/JPY?

[Bertusch]

Please help me out.

I think there is a wedge forming on USD/JPY, see picture.
Is this right?

[Rambo35]

What you drew does not look like a wedge to me, there are two two types of wedges; a rising wedge (bearish) and a falling wedge (bullish). I don’t see either one in what you drew, but that does not mean you are wrong. Trading is an art form and not science, but I would suggest you take a look at wedges and how they are formed and what they look like when you draw them.

[Bertusch]

What you drew does not look like a wedge to me, there are two two types of wedges; a rising wedge (bearish) and a falling wedge (bullish). I don’t see either one in what you drew, but that does not mean you are wrong. Trading is an art form and not science, but I would suggest you take a look at wedges and how they are formed and what they look like when you draw them.

Thanks either way. I’m now really trying to practice what I read but seem to still make mistakes. I like to post my setups anyway. Due to the Fed it did came to a succesful trade though (but was aiming for both so… :5:)