Exploring Shorting Opportunities
USDJPY is currently on a Bullish Trend, but I am keeping an eye out for a shorting opportunity.
After analyzing the weekly chart, I have identified a bearish bat pattern that could potentially be a good opportunity to short the market. We just need to wait for a candlestick confirmation and for the market to close at 146.96 to seal the deal.
Alternatively, there are also bearish crab patterns on both the 4-hourly chart at 150.43 and the 1-hourly chart at 149.81 that could be worth considering, depending on how aggressive we want to be with this trade.
It's worth noting that this trade is a bit tricky, as we may need to be patient and persistent in poking the bear until it starts to give us the bear run we're looking for. If we're too quick to shift stops to entry, we may get stop out a few times, but that doesn't necessarily mean losses for the trade.
Overall, I believe we have a good plan in place and I'm excited to see how this trade plays out. Let me know if you have any questions or concerns.
After analyzing the weekly chart, I have identified a bearish bat pattern that could potentially be a good opportunity to short the market. We just need to wait for a candlestick confirmation and for the market to close at 146.96 to seal the deal.
Alternatively, there are also bearish crab patterns on both the 4-hourly chart at 150.43 and the 1-hourly chart at 149.81 that could be worth considering, depending on how aggressive we want to be with this trade.
It's worth noting that this trade is a bit tricky, as we may need to be patient and persistent in poking the bear until it starts to give us the bear run we're looking for. If we're too quick to shift stops to entry, we may get stop out a few times, but that doesn't necessarily mean losses for the trade.
Overall, I believe we have a good plan in place and I'm excited to see how this trade plays out. Let me know if you have any questions or concerns.
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