Bearish Trend Continuation USD/JPY
Updated
This is setup based on My Bearish Sentiment
I have Reviewed Top Down Analysis From Weekly/ Daily/ and 4 Hour Charts (the following are my reasons for entry)
1. weekly chart is in a down trend
2. Daily Chart is in a Downtrend upper limit of trend channel not broken by test is i posted on Thursday
3. 4 hour chart shows greater likely-hood to move down (as can be seen on daily chart normal price action on pair)
Entry Parameters
1. Major Resistance level is located at 106.80 Brexit High
2. stop loss is placed @ 113% Extension of Major bearish candles on 4 hr Chart i.e. 107.10
3. entries are placed @ 105.35 derived from support and resistance & fib levels
4. take profit is @ 102.90 i.e. 141% extension of last bearish move
expected RR is 1 to1.4
Warning may be affected by news manage your trades diligently
so fat i have TP from this pair since original post
Please Review and comment
I have Reviewed Top Down Analysis From Weekly/ Daily/ and 4 Hour Charts (the following are my reasons for entry)
1. weekly chart is in a down trend
2. Daily Chart is in a Downtrend upper limit of trend channel not broken by test is i posted on Thursday
3. 4 hour chart shows greater likely-hood to move down (as can be seen on daily chart normal price action on pair)
Entry Parameters
1. Major Resistance level is located at 106.80 Brexit High
2. stop loss is placed @ 113% Extension of Major bearish candles on 4 hr Chart i.e. 107.10
3. entries are placed @ 105.35 derived from support and resistance & fib levels
4. take profit is @ 102.90 i.e. 141% extension of last bearish move
expected RR is 1 to1.4
Warning may be affected by news manage your trades diligently
so fat i have TP from this pair since original post
Please Review and comment
Trade closed: target reached
I Hope you guys made some money on my analysis 2 Targets hit
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