USDJPY - Pattern + DIV - Possible Long on a retest for type 2
USDJPY - Pattern + DIV - Possible Long on a retest for a type 2
I would be looking at a type 2 retest here, point B right now is likely to hit and would link up with Bearish Trend Line
Obviously a break of this TL would another buy opportunity and confirm a longer TP.
Divergence was a perfect Oversold to retest bounce of the 30 RSI - strong signal - however B point may and TL is resistance here.
If the rest happens with RSI following trade, that would be a good signal
Look at price action in the area if retested
I would be looking at a type 2 retest here, point B right now is likely to hit and would link up with Bearish Trend Line
Obviously a break of this TL would another buy opportunity and confirm a longer TP.
Divergence was a perfect Oversold to retest bounce of the 30 RSI - strong signal - however B point may and TL is resistance here.
If the rest happens with RSI following trade, that would be a good signal
Look at price action in the area if retested
Comment:
Also notice the triangle would form complete at a double bottom
Trade closed: target reached:
No retest but as mentioned a breakout of TL was another buy opportunity.
Trade target now hit and closed at previous resistance C point
Trade target now hit and closed at previous resistance C point