exploration
Short

Double Top Forming CAD/JPY 178 pip Target... Sell

FX:CADJPY   Canadian Dollar / Japanese Yen
272 3 0
Setup: Sell trade 178 pip target if price action goes below the dotted line on the chart enter the trade below the dotted line when/if price goes there....You could enter a sell trade now but it would be risky in case there is a reversal... plus 178 pips would be enough if price goes below the double top dotted line.... wait for it. Here is a setup for a 40 pip target on a rising wedge on CAD/JPY            

Tips on Trading Double tops and Double Bottoms http://www.informedtrades.com/2916-double-bottom-double-top-trading-strategies.html

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No loss or gain..price never hit the entry for a trade
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This setup: zero break out
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Price action is getting closer to a probable breakout of the Double Top...price on the one hour chart RSI may go up before returning towards the dotted line for a break out.
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