stockmarketdaytrader

Prices Are Heading Down

Short
OANDA:EURJPY   Euro / Japanese Yen
I can see a head and shoulders pattern on the 15 minute chart, when price breaks the neckline that's a good position to short! Price action has banged up to a pivot point level and found resistance there and will now look to head lower! I see the formation of a 123 top, were waiting for prices to break the #2 point and that will be a good place to sell! Head and shoulders are visible on the 30 minute chart, good probability that it will work out! We have an important support line that we need price action to break to confirm lower prices! Right now price action is being supported by this support line, when it starts to break through it, we must pay attention! We have a red spinning top on the hourly chart, I suspect that might be a trigger candlestick! We must be careful and wait for the breaks to happen because there are other conflicting signals as well! On the 4 hour chart we have histogram divergence supporting lower prices. We have a formation of a doji which price action headed down right afterwards! Good trend line break on the hourly and the 4 hour!

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