The priceline is moving within a pennant and hitting the pennant's support after Sep 2018.
Here the price action is also hitting at pivot 1st support.
In the meanwhile the price action is forming a bearish shark pattern and entered in potential reversal zone.
Sooner or later the price action can take bullish divergence from here at any time insha Allah.
3 counter-trend trading opportunity on USDJPY but let's look at the more recent 2, 1 on the 4-hourly chart, a bullish shark at 106.69 and a bullish butterfly at 107.11.
At this moment the candle shows a very nice setup for trend traders, a long shadow within the sell zone.
What will be your trade plan?
Bullish Shark Pattern complete as a counter-trend trade. A trade that on the day of engagement produced a 114pips of profits has now slid to 70pips of profit without risk at the moment.
On the 4-hourly chart(left) has a selling opportunity form at 1.2739 as a bearish shark pattern. A potential price to see retracement at the level but with that, it does pose a...
The priceline has completed the shark pattern and entered in potential reversal zone.
We already have a 2nd pivot support within PRZ area from here the price action will take bullish divergence insha Allah.
The stochastic is in oversold zone 1st time after feb 2019.
The targets are:
Buy between: $0.3049 to $0.25697
Sell between: $0.35363 to...