Fxprotrader
Short

USDJPY: Two Factors to Watch for Shorts

FX:USDJPY   U.S. Dollar / Japanese Yen
Price has reached the sliding parallel of a downsloping median line , above the upper parallel where previously found good resistance dropping to the down. Now testing the same parallel we may see that we have a massive rejection a very good signal that sellers are making the presence once again. If you trade candlestick formations you already have a nice bearish pinbar to go with. Otherwise just wait for a sell setup completion and aim for the sliding parallel acting as support, as shown in the chart
Comment: NIce bearish flag forming. Selling the breakout is a nice idea
Comment: In case you sold the breakout ( you are now in good profit ) moving your sl at BE is a nice idea

Comments

Thank you
Reply
Fxprotrader Bigstack
@Bigstack, Welcome
Reply
short usdjpy long metals
Reply
Fxprotrader 420snoop
@420snoop, Well said :)
Reply
A good short could present itself if price breaks below and retests the range on the 4H chart. I was also keeping an eye on this bearish setup. Nice catch, @Fxprotrader
Reply
Fxprotrader akadibaba
@akadibaba, Thank you mate
Reply
akadibaba Fxprotrader
@Fxprotrader, Ohhh boy. Here we gooooo. (I hope this image pops up)




Reply
Fxprotrader akadibaba
@akadibaba, That's a good scenario for price to drop further
Reply
akadibaba Fxprotrader
@Fxprotrader, AYOOOOO called it lol Woo! Nice confluence between our ideas.


Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out