Good morning everyone,
this morning I received a signal alert notification from LuBot, a short on trend with a 12H timeframe.
The signal follows the main rules of a good trend, the trend cloud is negative, the moving averages are in favor of the bearish trend, the supertrend is also bearish and the last trend signal is the short one in red.
Regarding the structure and price action we see the gray candles, so the short-term structure is uncertain and currently seems to have simply made a false break of the previous highs with a return below them and the ema21.
The signal then triggers after a retracement on the trendcloud area with closing below the ema21 thus showing bearish strength.
LuBot recommends a stop above the ema200 and take profit below the latest lows and I will currently follow these levels.
Based on the subsequent movements I will decide whether to move the stop above the previous highs or the take profit to the lows area in case the price action continues to show uncertainty.
👍 If you liked this post let me know with a like
🙋♂️ Remember to follow me so you don't miss my future analyses
⚠️ Disclaimer: This post is for informational purposes only and does not constitute financial advice. Always do your research before making investment decisions.
TAGS:
USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY
this morning I received a signal alert notification from LuBot, a short on trend with a 12H timeframe.
The signal follows the main rules of a good trend, the trend cloud is negative, the moving averages are in favor of the bearish trend, the supertrend is also bearish and the last trend signal is the short one in red.
Regarding the structure and price action we see the gray candles, so the short-term structure is uncertain and currently seems to have simply made a false break of the previous highs with a return below them and the ema21.
The signal then triggers after a retracement on the trendcloud area with closing below the ema21 thus showing bearish strength.
LuBot recommends a stop above the ema200 and take profit below the latest lows and I will currently follow these levels.
Based on the subsequent movements I will decide whether to move the stop above the previous highs or the take profit to the lows area in case the price action continues to show uncertainty.
👍 If you liked this post let me know with a like
🙋♂️ Remember to follow me so you don't miss my future analyses
⚠️ Disclaimer: This post is for informational purposes only and does not constitute financial advice. Always do your research before making investment decisions.
TAGS:
USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY USDJPY
LuTrader Garage : linktr.ee/LuTraderGarage
✅ Sviluppa / Develop Indicators & Strategies
✅ Custom alerts & Backtesting
✅ LuBot - Prova gratuita / Try for free
✅ Sviluppa / Develop Indicators & Strategies
✅ Custom alerts & Backtesting
✅ LuBot - Prova gratuita / Try for free
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.
LuTrader Garage : linktr.ee/LuTraderGarage
✅ Sviluppa / Develop Indicators & Strategies
✅ Custom alerts & Backtesting
✅ LuBot - Prova gratuita / Try for free
✅ Sviluppa / Develop Indicators & Strategies
✅ Custom alerts & Backtesting
✅ LuBot - Prova gratuita / Try for free
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.