Good weekend everyone, quick one at USDJPY
Weekly: Price moving inside big triangle for years and now failed to re-test top, therefore i expect price to go down now.
Daily: Price broke ascending trendline and now its re-testing it (pullback), should the price reject it then we have another bearish confluence.
H4 and H1: Price showing clear indecision right now, what is expected, should the price break and close below H4 50ema then we may trigger our short position aiming bottom of the big triangle, near 108.1 zone.
Should the price reach 109.2 trail the S.Losses and reduce position.
Wait for bearish confirmation before trigger the short.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Weekly: Price moving inside big triangle for years and now failed to re-test top, therefore i expect price to go down now.
Daily: Price broke ascending trendline and now its re-testing it (pullback), should the price reject it then we have another bearish confluence.
H4 and H1: Price showing clear indecision right now, what is expected, should the price break and close below H4 50ema then we may trigger our short position aiming bottom of the big triangle, near 108.1 zone.
Should the price reach 109.2 trail the S.Losses and reduce position.
Wait for bearish confirmation before trigger the short.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Should price test and reject the ascending trendline a short idea is still viable.
For now, nothing to do here.