As you can see on the USD JPY Daily chart , the market broke the bullish trend line (look at the big red candle mentioned on the chart), and pulled back to test the bullish trend line ( look at how the market rejected prices after the pullback).
We also noticed that there is a nice double top pattern that was formed at the end of the bullish trend which indicates the end of this bullish trend and the probable beginning of a new downtrend.
The best entry should be after the breakout of the range and the profit target is at the level I mentioned on chart , we enter if the breakout happens , if not we ignore it .
What do you think about my analysis ? I need more comments, and like from you guys
We also noticed that there is a nice double top pattern that was formed at the end of the bullish trend which indicates the end of this bullish trend and the probable beginning of a new downtrend.
The best entry should be after the breakout of the range and the profit target is at the level I mentioned on chart , we enter if the breakout happens , if not we ignore it .
What do you think about my analysis ? I need more comments, and like from you guys