Kings Crown Short Idea USD/JPY
Looks to me like a BEARish crown on the daily USD/JPY Chart
Fundamental note: Based on the weakening of the US dollar through inflation. Real Yields are currently negative.
Technical note: 5 Rules of a Bearish Kings Crown:
1-Market breaks up trendline
2-Market takes out a major support for a lower low
3-Mark the B high of the uptrend - for potential entry confrimation
4-Enter at a counter trend line break to the south, with targets at your FIB extensions
5-Create your new down trend line
Aslo seeing a shift (death cross) of the 5-13 EMAs to confirm Bearish market.
"GPS" zoom in for tighter entries on smaller time frames, keeping the same targets.
Risk no more than 2% of account per trade
Set alerts at support and/or reversal zones to take partials. Roll stops at 50% level to Break even position. Let ride and collect profit likely 1-3 weeks
Learn to earn project. Blessup
Fundamental note: Based on the weakening of the US dollar through inflation. Real Yields are currently negative.
Technical note: 5 Rules of a Bearish Kings Crown:
1-Market breaks up trendline
2-Market takes out a major support for a lower low
3-Mark the B high of the uptrend - for potential entry confrimation
4-Enter at a counter trend line break to the south, with targets at your FIB extensions
5-Create your new down trend line
Aslo seeing a shift (death cross) of the 5-13 EMAs to confirm Bearish market.
"GPS" zoom in for tighter entries on smaller time frames, keeping the same targets.
Risk no more than 2% of account per trade
Set alerts at support and/or reversal zones to take partials. Roll stops at 50% level to Break even position. Let ride and collect profit likely 1-3 weeks
Learn to earn project. Blessup
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