Pronoe
Short

USDJPY bearish divergence and bearish Elliott Wave on trendline

FX:USDJPY   U.S. Dollar / Japanese Yen
- Strong Bearish Divergence with stochastic
- Overbought
- About to start leg C of the correction waves of a bearish Elliott Wave
- On resistance area plus streong trendline tested 3 times over the last ~100 days

Entry :
- Sell Stop below previous swing low at 102.830

Exits :
- S/L few pips above trendline and resistance area
- T/P at 101.700 for R/R ratio = 2 if I see a sign of strong bearish candle I might drop it all the way to the next zone while moving my stop loss above the previous resistance area
Trade active: Here we go
Trade closed manually: lost confidence, price faced support on a support area with a rather bullish candle and the stochastic is oversold
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