USDJPY bearish divergence and bearish Elliott Wave on trendline
- 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
- 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