Get started
TheForexSamurai

Market and Pattern based trade setup with POR

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
TheForexSamurai Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Shark
8
0
sharkpattern
Hi guys, we got a short opportuntiy waiting right here. A candle break and close below the diagonal support (lower trendline) is a signal that I could go for Short/Sell position. Stops could just be above the previous high or ATR (15) based multiplied by two (2). Targets could be a good 1:1 upto to a certain pattern completion which is the 88.60% Shark. Or you could refer on one setup we have here on the USDJPY for the longterm. But take note greedy is not good. So maybe could take half position into profits ocne TP 1 is hit and move our SL to BE for a risk free trade with an extended target and so on... Good luck!
Comment:
Take note of the 161.80% price, a candle break and close above the 161.80% will invalidate this setup. TWC.
Comment:
Bearish Divergence is also visible...
snapshot
Trade closed manually:
Invalid Setup
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.