RobTaylorForex
Short

USDJPY Head and shoulders short

FX:USDJPY   U.S. Dollar / Japanese Yen
169 6 3
Taking a short trade here, have entered at 118.90 and target is about 118.00, distance from top of head to neckline. Placing a tight stop just above 119,00 as I feel it invalidates trade if price moves above that. Also interesting, the right shoulder itself was a head and shoulders pattern that completed, with a drop equal distance from the head to neckline. Sorry for messy chart, wanted to get idea quick, was using this for some scalping as well as other analysis. I did not hit that first target just wanted to show the measurement.
Very good call here. To the T
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Thank you :)
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Great analysis mate!
+1 Reply
RobTaylorForex Pip_Alchemist
Thank you :) I can't believe I was literally bang on there lol
+1 Reply
and another Head and shoulders just completed from my entry Lol
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RobTaylorForex RobTaylorForex
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