Ill be looking for a rejection at the top green line and either a double top or reversal pattern so enter short.
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Both Stop losses are at 102.496 for this USD/JPY short trade.
Trade active
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I entered early. Hopefully I don't pay for it.
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Looking at my daily chart there is stiill 169ish pips up the pair can move before going back down. If stopped out of this position I will be waiting for a reversal on the bear channel trend line.
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Now that I looked at the daily it looks like there is still 169 pips of room for the pair to move up. If I am stopped out of this trade I will wait for a test of the trendline before shorting .
Trade closed: stop reached
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I payed for it.
Comments
MikePips
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Both Stop losses are at 102.496 for this USD/JPY short trade.