UJ Destined for 107.85 after H&S Pattern (SELL) weekly, daily,1h
UJ Thesis
- Weekly: Although last week candle closed as a bullish engulfing UJ is still very bearish with multiple wick rejections off 109.00 weekly zone signalling sell pressure creeping into the market.
- Daily: With price taking out previous lows UJ market structure is now bearish. I do see UJ rolling over to the downside with next possible target being 107.85 with double top formed at 109.25.
- 1hr: H&S reversal pattern formed with neckline broken signalling UJ price could go as low as 107.85. Would like to see a break below 108.70 before considering and sells.
Trade active
Trade closed: target reached
First TP hit +31.Stopped out at break even
Trade active
Re-entry to initial targets!Trade closed manually
in profit
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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.