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DesharedPierreJr.
Jun 25, 2023 11:23 PM

USDJPY retracement at the high Short

USD/JPYOANDA

Description

After a few indecision candles at the high, followed buy a volume push up to a major resistance, I became alert that a bearish setup might present. Friday closed off with a variation of a bearish engulfing. When price closes beyond a price then closes right back beneath it its a sign that this price is being rejected. Naked analysis tells us that the 1hour chat has already began its downward momentum. A minor double top formed. My short entry was based on the high volume bearish engulfing re-test at the neckline. The 30MIN chart has begun creating its lower highs and lower lows. This is a short scalp. the buy will likely present later in the week.
Comments
TheFxAce
Strong short setup. You've got a keen eye for those trends and patterns!
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