EURJPY - Rising Wedge
In this chart, a rising wedge has been identified. I've checked for divergence before placing the trade. The projected fall has been shown via the dotted arrow which is equivalent to the base of the wedge (distance between the high and the low).
Given my expectation that the trend might turn bearish, I've placed the stop loss above the resistance level and placed the sell stop order below the previous HL. Let's see how this one plays out.
Given my expectation that the trend might turn bearish, I've placed the stop loss above the resistance level and placed the sell stop order below the previous HL. Let's see how this one plays out.
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