I have been looking for a mid-term short entry for a while now on UJ and things are starting to line up. Price is being held by a long-term trend line at 114.4 which has been rejected 5 times on the Daily there is also a big Gann level which price is reacting to at 114.00. Retail short sentiment has dropped from a month ago after selling the whole way up, Volume is also building.
Its Still (just) in an upward channel and may try for 114.00+ again which would be a nice short entry. If not a short below 112.1 might do. Looking for 111.4, 110.0 initially. This setup is invalid if the daily closes above 114.5.
Its Still (just) in an upward channel and may try for 114.00+ again which would be a nice short entry. If not a short below 112.1 might do. Looking for 111.4, 110.0 initially. This setup is invalid if the daily closes above 114.5.
Trade active
Note
Another lower high rejection on the daily, setup going to plan entered around 113.37 still looking for 111.30
Note
Trade closed: target reached
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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.