USDJPY 31 March 2023
Analysis:
Bullish Flag possible continuation pattern
but on RSI we can see bearish Divergence
so this can reversal pattern (DOUBLE TOP).
So we can have two trade plans one bullish
and one bearish we will pick trades by the
help of BUY/SELL stop
Trade Plan (Bullish Setup/Bullish Flag)
Entry (Buy stop) 133.064
Stop loss 132.158
Target 1 133.970
Target 2 134.840
Trade Plan (Bearish Setup/Double Top)
Entry (Sell Stop) 132.158
Stop loss 133.064
Target 1 131.277
Target 2 130.357
NOTE: stoploss 2% or 5% risk of the capital.
Adjust your lot sizes according to your account
size
Bullish Flag possible continuation pattern
but on RSI we can see bearish Divergence
so this can reversal pattern (DOUBLE TOP).
So we can have two trade plans one bullish
and one bearish we will pick trades by the
help of BUY/SELL stop
Trade Plan (Bullish Setup/Bullish Flag)
Entry (Buy stop) 133.064
Stop loss 132.158
Target 1 133.970
Target 2 134.840
Trade Plan (Bearish Setup/Double Top)
Entry (Sell Stop) 132.158
Stop loss 133.064
Target 1 131.277
Target 2 130.357
NOTE: stoploss 2% or 5% risk of the capital.
Adjust your lot sizes according to your account
size
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