Fxprotrader
Short

USDJPY Strong Sell Setup

FX:USDJPY   U.S. Dollar / Japanese Yen
Looking at USDJPY             we have too many factors showing to sell this market. After a massive fall price started recovering having having completed three patterns. An abc corrective pattern, a bearish ab=cd and a bearish gartley . A strong bearish divergence with RSI is adding to our thoughts to go short with this one. Finally we can see that price broke the lower parallel of the wave c channel.

Stoploss and profit target as shown at the chart.
Shame you didn't sell higher. But still good one.
Wide stop though...why so wide?
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Well the ideal level for stoploss would be just above D point of the harmonic. I placed a little higher only to be safer. I tend to add to this and trail my stoploss. I expect a strong move to the down..
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