DislikedIt would not be counter trend given we are in the midst of chop and we are playing the chop. At least that's the way I'm playing it.
1. USDJPY Monthly is in an overall downtrend but the most current bars are what we are interested in. Those most recent bars are making HH and HL.
2. USDJPY Weekly is making even clearer HH and HL.
3. USDJPY Daily broke the 90.75 resistance on the 27th and the basic PASR you are asking about occured on the 1st with a BUOB. Long today 10 pips above yesterday's high....Ignored
I am a novice in relation to many on this thread, having studied (and I think, mostly understood) from the beginning to page 702.
I have carefully checked your response against my own charts, and wish to make the following observations:
1) On the monthly, the May bar is the controlling bar, and made a LH (not HH as you say). Surely the May bar is the the "most current"?
2) When the monthly bar for June closes it may well make a HL, but we will not know this until the end of the month.
3) Anyway, unless the monthly June bar takes out the H or L of the May bar, the May bar will still be the controlling bar (see the blue dashed lines also on the daily)
4) On my daily chart (attached) the 1st of June bar (black arrow) was not a BUOB, but a BEEB. Big difference, and I don't think different platforms would explain this.
For beginners and novices like me, this debate is highlighting one of the most difficult and subjective matters in the mastery of Strat's basic PASR trading system; which is the reason I am hoping for some comments from the senior trainers.
"Make everything as simple as possible, but not simpler" Albert Einstein