-INTRODUCTION-
In the 4-hour chart, we can spot a potential wide head and shoulder pattern. The neckline level is established at 127.200 ~ 127.500 level. A clean breakout from this neckline would indicate a strong bearish movement. Thus, we are closely monitoring the price action at around the neckline area.
-TRADING PLAN-
After a clean breakout, we will prepare our sell limit orders at the neckline area to capture the retest.
Check out our previous JPY trading ideas below :)
In the 4-hour chart, we can spot a potential wide head and shoulder pattern. The neckline level is established at 127.200 ~ 127.500 level. A clean breakout from this neckline would indicate a strong bearish movement. Thus, we are closely monitoring the price action at around the neckline area.
-TRADING PLAN-
After a clean breakout, we will prepare our sell limit orders at the neckline area to capture the retest.
Check out our previous JPY trading ideas below :)
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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.
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.