USDJPY - EASY Bearish Triangle Pattern - Detailed Description
Updated
Hi Traders!
The market is in a Downtrend.
The Key Areas are:
Category:
- Bearish Flag Pattern
- Trend Continuation
When started the Downmovement?
It started when it reached the D1-Trendline.
This was around the Level of 109.900.
How long was the first Downmovement?
The movement ended at the Support of 106.700.
The distance is 320 pips - quite a lot!
What is it doing now?
Now it is in the Bearish Triangle.
The Triangle is made of a descending Trendline coming from above and
the Support from the bottom.
It is making the Support weaker, because no more buying pressure can hold the selling pressure anymore.
Target of the idea?
The bearish Break of the Support 106.700 is the Entry Trigger.
We recommend to trade the Break when the candle closes!
Thanks and successful Trading :)!
The market is in a Downtrend.
The Key Areas are:
- Trendline "Daily Trendline" - descending, resisting
- Trendline "Bearish Triangle" - descending, resisting
- Resistance @ 109.900
- Resitance @ 108.000
- Support @ 106.700
- Support @ 105.000
Category:
- Bearish Flag Pattern
- Trend Continuation
When started the Downmovement?
It started when it reached the D1-Trendline.
This was around the Level of 109.900.
How long was the first Downmovement?
The movement ended at the Support of 106.700.
The distance is 320 pips - quite a lot!
What is it doing now?
Now it is in the Bearish Triangle.
The Triangle is made of a descending Trendline coming from above and
the Support from the bottom.
It is making the Support weaker, because no more buying pressure can hold the selling pressure anymore.
Target of the idea?
The bearish Break of the Support 106.700 is the Entry Trigger.
We recommend to trade the Break when the candle closes!
Thanks and successful Trading :)!
Note
Note
You wanna see the RED BOX, but in Big? No Problem ;)!
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