USDJPY - Wait for Monthly chart Bearish Signal
Updated
If this monthly candle close at 105.50 & below, the bearish signal is strong enough to test Fibo 50% level (reentry of the previous downtrend line).
Trading Idea:
Option 1: Short now with CL 107.600 and TP 102.000
Option 2: Wait until 30 Aug to observe the daily closing candle. As long as it stay below 105.50, just short it with CL 106.500.
Trading Idea:
Option 1: Short now with CL 107.600 and TP 102.000
Option 2: Wait until 30 Aug to observe the daily closing candle. As long as it stay below 105.50, just short it with CL 106.500.
Note
Chart doesn't go according to Option 2, stay tuned for better entry point.In case shorted using Option 1, stay tight with the CL and TP with trailing stop.
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