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UsdJpy looks promising for a potential sell.
I look for a sell for the following reasons:
1. Potential Double Top
2. The price is moving into the level correctively
3. An ascending Channel (Sell Structure)
If the pair forms a LTF bearish reversal pattern such as a double top, ascending channel, etc. I will look to short the market with either a risk entry within the LTF structure or a reduced risk if there is a sell impulse followed by a tight consolidation. That is if there is a breakout of the consolidation.
UsdJpy looks promising for a potential sell.
I look for a sell for the following reasons:
1. Potential Double Top
2. The price is moving into the level correctively
3. An ascending Channel (Sell Structure)
If the pair forms a LTF bearish reversal pattern such as a double top, ascending channel, etc. I will look to short the market with either a risk entry within the LTF structure or a reduced risk if there is a sell impulse followed by a tight consolidation. That is if there is a breakout of the consolidation.
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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.