dojitrader
Short

Simple Sell The Retest Of Broken Trend Line

FX:EURJPY   Euro / Japanese Yen
82 1 0
You could sell the touch of the trend line break @ about 141.39/41 with s/l @ 141.613 thinking that much above
141.50 and it is probably going back into the channel --- or sell the stronger resistance @141.54, if it gets there
and then move the s/l up another 10/12 pips or so --- or, sell the break of resistance below this candle's low
@140.93 with a stop above the candle high. Seems like a small, reasonable risk for about 100 pips with little
resistance until 139.90
Pop the Top ! Drop back. Punch through the Bottom, jump back inside. ---
The channel seems like the place to be happy. (Waiting for the Fed ?)
This move has made the potential H & S, my least favored pattern, much more symmetrical,
should it complete and become a valid set up.
(only after a break below/close below of the neckline is it completed)
So, if no other set up presents itself, I'll look to sell the retest of a break
around 140.95.
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