USDJPY bearish divergence and bearish Elliott Wave on trendline
Updated
- Strong Bearish Divergence with stochastic
- Overbought
- About to start leg C of the correction waves of a bearish Elliott Wave
- On resistance area plus streong trendline tested 3 times over the last ~100 days
Entry :
- Sell Stop below previous swing low at 102.830
Exits :
- S/L few pips above trendline and resistance area
- T/P at 101.700 for R/R ratio = 2 if I see a sign of strong bearish candle I might drop it all the way to the next zone while moving my stop loss above the previous resistance area
- Overbought
- About to start leg C of the correction waves of a bearish Elliott Wave
- On resistance area plus streong trendline tested 3 times over the last ~100 days
Entry :
- Sell Stop below previous swing low at 102.830
Exits :
- S/L few pips above trendline and resistance area
- T/P at 101.700 for R/R ratio = 2 if I see a sign of strong bearish candle I might drop it all the way to the next zone while moving my stop loss above the previous resistance area
Trade active
Here we goTrade closed manually
lost confidence, price faced support on a support area with a rather bullish candle and the stochastic is oversold
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