Falling wedge pattern, the price is appreciated, now the time for little correction of 100 PIPS before moving upwards. We take short position to grab those 100 PIPS
Note
You can observe in below 15M chart of USDJPY that whenever we see a rising wedge pattern, the price falls - At the moment, the price is ready to fall down to 113.70 and than 112.50 which is our target. Trade active
Moving down to 113.70 than 112.70Trade active
Landing soon to 113.60Trade active
113.60 hit, now 112.70 and than 112.50 on the tableTrade active
Descending channel is intact till 112.70 in 5M chart. Trade closed: target reached
Multiple targets achieved in 19 days.
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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.