USDJPY 4H TF - H&S Pattern
Updated
Previously, I posted H&S pattern for this pair using the 1D TF. To support my previous analysis, here's using the 4HR TF.
Possible entry price
Aggressive: 114.385 - below small trendline and previous resistance
Conservative: 113.875 - below medium trendline and with confirmation of H&S pattern already.
Currently, the pair has low volume, so let's wait 'til volume hits up.
Possible entry price
Aggressive: 114.385 - below small trendline and previous resistance
Conservative: 113.875 - below medium trendline and with confirmation of H&S pattern already.
Currently, the pair has low volume, so let's wait 'til volume hits up.
Note
The pair formed new higher high at 115.2, but still not breaking the resistance zone. As long as it stays below the resistance area, bearish action could still be expected following the H&S pattern. My new entry price would be 114.907, below a small resistance based on daily TF. I am expecting it to continue 'til 114-113.7Order cancelled
H&S didn't materialize.
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