The channel USDJPY have been in now is coming to an end soon.
We see the volume dropping as it is still rising, the speed of the rise is taking off also.
Since the resistance as shown is at the same height my thoughts on this trade are that we are going down and break again from this channel.
On the bigger picture (1D) I'm seeing a triangle that I will publish in the future when It's worth sharing.
Thanks for reading!
Wesley
We see the volume dropping as it is still rising, the speed of the rise is taking off also.
Since the resistance as shown is at the same height my thoughts on this trade are that we are going down and break again from this channel.
On the bigger picture (1D) I'm seeing a triangle that I will publish in the future when It's worth sharing.
Thanks for reading!
Wesley
Trade active:
Looks very bearish now, don’t hope this is a fake breakout like 28 March.
The resistance I showed is still very valid.
The resistance I showed is still very valid.
Trade closed: stop reached:
A major resistance as shown below seems to be the level that has to be tested first.
My trade was looking at the lower timeframe resistance which didn't work out well.
Thanks for following and liking this analysis.
My trade was looking at the lower timeframe resistance which didn't work out well.
Thanks for following and liking this analysis.