USDJPY Long. Expecting Double Top on 4h
UJ is within a bull channel that can be drawn differently than the one on the chart above: it has had 3 attempts to reverse, enough for bear scalps. I´m expecting a Double Top with Oct, 3 high.
What may cause doubt is that the bull channel looks like a 3-push wedge. If so, the orange trend line shows an end coming for the bulls. Besides, most bull channels end with bear breakouts in 75% cases.
What may cause doubt is that the bull channel looks like a 3-push wedge. If so, the orange trend line shows an end coming for the bulls. Besides, most bull channels end with bear breakouts in 75% cases.
Trade closed manually
Closed with a small loss at 113.912
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.