This setup is pretty correlated with my analysis on USDJPY.
Pattern Identification
Bearish Shark completes around 84.63.
Drawing in my strong S/R zone, I will not be surprised to see it going slight higher to 84.80.
This will be my zone of interest
Trade Execution
I hope to see a nice rejection around the zone I mentioned above.
EP: 84.60-84.80
SL: 85.10 (50)
TP: (CD Fib 50%)83.45 (115)
This setup will be invalited when price goes above 85.10 or if it continues falling without coming up to my zone of interest
Pattern Identification
Bearish Shark completes around 84.63.
Drawing in my strong S/R zone, I will not be surprised to see it going slight higher to 84.80.
This will be my zone of interest
Trade Execution
I hope to see a nice rejection around the zone I mentioned above.
EP: 84.60-84.80
SL: 85.10 (50)
TP: (CD Fib 50%)83.45 (115)
This setup will be invalited when price goes above 85.10 or if it continues falling without coming up to my zone of interest
Note
Updated Shark Pattern. Still watching the same area for short opportunities.Right now, I'm standing with the bulls.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.