I am usually not trading Jpy but i've found here a nice tripple head an want to show for some of you who dont know how to trade it, how to trade it.
Before the main trade at the end, i want to show you how you can good profit from "side"movements. Here we need BB and one or two other Indicators like Stochastik or SFK to which will support you at your entries.
Only if all indicators show long, you go long. Only if all indicators show short, you go short.
I\ve marked possible entries with green/red arrows, you can see that the cours touch the BB, and that is our entry signal, but only if other supporting indicators are agreeing with it. ( sucks at it..)
Now for the main entry.
We have tripple top, a nice double support tested, and as you can see there is again an downwards move.
The target is somewhere in the .
If we fall below supported area, we go short after retracement. If we break the tripple resistance, we can trade the break-out, but i would take the profit...before the retracement.
The whole sidewards move could be also a flag from a bigger timeframe..what do you think ?
Thanks for reading, follow please for more "Ideas"