USDJPY Short
Direction: - The pair was in Bearish Orderflow.
- Pattern was created in the Bearish H4 OB (Orderblock).
Entry: - M (Double Top) Pattern Formation.
- Big pin created covered the FVG(fair-value gap). This pin is also in the H4 OB. This indicates a quick move occurred to grab liquidity before moving down.
- 13 EMA cross & close, confirming continuous down movement. This was my entry.
- RSI near the 68. This indicates the pair is exhausted and is near overbought. Therefore, the pair is due to drop.
- MBL (Market Base Line) is pointing down above the 50, which indicates probable drop.
- Squeeze in volatility bands between the 50 & 68 indicate a sudden burst will occur downwards (volatility bands will open up to the downside).
Exit: - 9 pip SL @ above high.
- 16 pip TP @ 200 EMA. This can act as a resistance point to the pair, so my TP was slightly above it.
Direction: - The pair was in Bearish Orderflow.
- Pattern was created in the Bearish H4 OB (Orderblock).
Entry: - M (Double Top) Pattern Formation.
- Big pin created covered the FVG(fair-value gap). This pin is also in the H4 OB. This indicates a quick move occurred to grab liquidity before moving down.
- 13 EMA cross & close, confirming continuous down movement. This was my entry.
- RSI near the 68. This indicates the pair is exhausted and is near overbought. Therefore, the pair is due to drop.
- MBL (Market Base Line) is pointing down above the 50, which indicates probable drop.
- Squeeze in volatility bands between the 50 & 68 indicate a sudden burst will occur downwards (volatility bands will open up to the downside).
Exit: - 9 pip SL @ above high.
- 16 pip TP @ 200 EMA. This can act as a resistance point to the pair, so my TP was slightly above it.
Catatan
USDJPY continued to drop as expected. Take TP near last weeks low if you are still in.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.