OANDA:USDJPY   U.S. Dollar / Japanese Yen
On the weekly - broke a major high, and now broke back below (run on massive liquidity)
- Also created lot of imbalance (yellow area) with a tiny Orderblock inside which also could be respected IF the market were to come all the way down here.
- Testing an Orderblock


On the Daily - Created an M pattern with a higher right leg (no more liquidity above this level) later closing below. It gave a strong impulse down with a slow correction. Now we are testing the neckline which also lines perfectly up with EQUILIBRIUM (50%) of the fibonacci. We could see a move lower from here.

TP points: - All the lines (Sell side liquidity)
- Imbalance
- Tiny Orderblock INSIDE imbalance



Do own research*
Comment: (forgot to mention that we are also testing a trendline that was broken to the downside) :)
Comment: Check comment below to check the Bearish divergence as well. lots of confluence for a bearish move
Comment: Tradingview doesn't allow me to upload links in the comment section, but there's a big bearish divergence on the DAILY TIMEFRAME, using the RSI. See yourself
Comment: Take Profit 1 & 2 Reached!

Comments

I took entry here from where u posted, with stop loss over the blue area and take profit at first line and I made some money. thank you sir!
+1 Reply
Bastianelton DannyMarFX
@DannyMarFX, Wow, congrats bro!
Reply