USD/JPY: bearish flag channel + SHS
Updated
U.S. Dollar forming a bearish flag channel in H2 timeframe, you can to view in H1 too, but in H2 we see one thing very good in this analysis. Because in the price action, we formed now a bearish engulfing pattern. But into this price action, we see a bearish flag in formation that the price could to drop. And right now, we forming a Shoulder Head Shoulder (SHS) that it's in formation and we have this chance to put a short position in USD/JPY. Also, we could to put a short position in USD/CHF as USD/CHF will drop too. But in my opinion for USD/CHF it's that if we like to short this par, the price need to break out the demand zone, but we could to have this opportunity to short. But in USD/JPY it's very more clearly than USD/CHF that we could to find a short position in the good point now.
Shoulder Head Shoulder and my projection to $132.20 JPY.
i put a sell order limit to $135.12 JPY and target to the $133.80 JPY (support in the EMA 200) and Stop Loss to $135.68 JPY.
This it's a risk/benefit of 1:2.
Good luck!!!
Shoulder Head Shoulder and my projection to $132.20 JPY.
i put a sell order limit to $135.12 JPY and target to the $133.80 JPY (support in the EMA 200) and Stop Loss to $135.68 JPY.
This it's a risk/benefit of 1:2.
Good luck!!!
Note
I will keep shorting USD/JPY to short!!! I dont make any change. ONly hold USD/JPY htat the price can to drop from that point of this channel to hope to see a bearish movement by bad neWS in the USD.Note
I believe in my trade to short. But if for any reason the USD make a false break-out. I will reserve my and add my 2nd book short posiiton to $135.73 JPY to entry at favor in this manipulatio zone that could to occur.
But now, if in H4 there's not any manipulatio, the trend could to weakness. But right now in H4 timeframe we forming a bearish hanging man that it's a bearish signal. At the moment, I'm in short from yesterday $135.13 JPY. But there're a lot chance in anyway that USD will weakness at favor of my fundamental news
For that, I add my 2nd book position
Trade closed: stop reached
The movement was at favor by fundamental news that I dont take in note.Bad trade!!!
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