An updated Bearish White Swan Pattern for USD/JPY which
I already posted last week, however, as price surged higher
the entry and stop/loss levels have altered slightly.
Note that this pattern will be invalid with a close above the
111.874 level (3.140 of BC).
Trade 1 short (RvR ratio 3.27)
Entry: Close below 110.950 and below 10 SMA)
S/L: 111.500
T/P 1: 110.538
T/P 2: 110.009
T/P 3: 109.632
T/P 4: 109.152
Trade 2 short (RvR ratio 2:1)
Entry: Close below and rejection at 109.152
S/L: 109.405
T/P 5: 108.646
As always, scale out your profits - especially now with a
strong DXY exit strategies are crucial - and adjust stop/
loss levels to suit your personal risk management profile.
Happy trading
I already posted last week, however, as price surged higher
the entry and stop/loss levels have altered slightly.
Note that this pattern will be invalid with a close above the
111.874 level (3.140 of BC).
Trade 1 short (RvR ratio 3.27)
Entry: Close below 110.950 and below 10 SMA)
S/L: 111.500
T/P 1: 110.538
T/P 2: 110.009
T/P 3: 109.632
T/P 4: 109.152
Trade 2 short (RvR ratio 2:1)
Entry: Close below and rejection at 109.152
S/L: 109.405
T/P 5: 108.646
As always, scale out your profits - especially now with a
strong DXY exit strategies are crucial - and adjust stop/
loss levels to suit your personal risk management profile.
Happy trading
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.
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.