Bat formation about to complete at daily structure level
Hey guys,
i've just exited my position on USDJPY for a profit of 120 pips, but that doesn't mean i cannot reenter the same pair again if i have reason to enter the market.
And this is precisely the case: we are heading back to retest the double top's top and we are still in the same level of daily structure (black line). Price broke to the downside the previous formation and we think this is a confirmation signal of bearish reverse.
That's why we are looking for a selling signal in order to short the market at that level.
A bat formation is enough for me to enter the market, especially when it completes at structure levels.
Stops above X, targets as usual.
See you in the next chart!
i've just exited my position on USDJPY for a profit of 120 pips, but that doesn't mean i cannot reenter the same pair again if i have reason to enter the market.
And this is precisely the case: we are heading back to retest the double top's top and we are still in the same level of daily structure (black line). Price broke to the downside the previous formation and we think this is a confirmation signal of bearish reverse.
That's why we are looking for a selling signal in order to short the market at that level.
A bat formation is enough for me to enter the market, especially when it completes at structure levels.
Stops above X, targets as usual.
See you in the next chart!
Trade closed: target reached:
Both targets hit! + 150 pips for today!
