bharatest
Short

ABCD pattern and negative divergence.

FX:USDJPY   U.S. Dollar/Japanese Yen
71 5 2
ABCD pattern and negative divergence. Take profit at previous swing High
This is the most dangerous divergence to trade for three reasons :
1. If you short here where will you put your stop since you have not recent price @ left &
2. If the price continues going up, eventually the indicator will reach its previous high cancelling thus divergence & most important
3. It is countertrend

However it is an early warning for you to start watching for reversal patterns
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bharatest Dimitris
I put stop on just top of today's bearish candle. what does mean not recent price @ left?
Reply
Dimitris bharatest
I mean that last time price was at these levels was October 2007 !!! So looking left at the chart there is not recent price action as to gauge support and resistance levels, where stops and TPs . 2007 for me is just too far away.

Wish you best of luck
Reply
bharatest Dimitris
diagonal support and resistance,
snapshot
I agree it is counter trend that's why i have put stop lose close.
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