A fairly steep trendline going up on USDJPY 15M timeframe. Should the trendline break we probably wouldn't go short until the price clears the 1.2411 level with a strong bearish candle aiming for a target of around 1.2370 or at least the trendline just above it. The overall bias for this pair is long though so that should be kept in mind.
Comments
timwest
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I like how you are just using price bars to make your analysis. It is very clear what you are looking for. Would you consider posting WHEN you see the entry signal happen? That would be great for all of us to see when an idea is "actionable" instead of just "brewing". Thanks for posting your charts and look forward to seeing more from you.
ClearEdgeFX
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Thanks for your feedback. I certainly will post entry signals on higher time frame charts. The 15M charts are just for spotting potential opportunities for those who prefer to trade on short-term and intraday timeframes. In this particular case the conservative approach of aiming for the lower trendline would have netted out 20 pips. If I happen to catch a good opportunity to enter on 15M charts I will post it, but usually I take trades on 4H and up.