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VasilyTrader
Apr 16, 2018 10:52 AM

rising wedge in downtrend Short

U.S. Dollar/Japanese YenFXCM

Description


Hey traders,
potential trend following option.
I will sell bearish breakout of this rising wedge.
As you see the patter contracts as prices move higher and the trading range narrows + RSI divergence give as signs of potential breakout.
In trend following trades I base my first taget on the previous level of structure and then trail stop following the trend!
Good luck!

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attempt to break

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potential breakout

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local bounce up

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holding short

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I expect to see retest of local structure high

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Retest of structure
Comments
martijn_vdb
General idea about this pair? wait until it has reached 107.563 or short from this position because this might just be retracement
VasilyTrader
@martijn_vdb, hello, for now I think that the best idea is to sell the retest of the high, cause we see that after bearish breakout market goes up.
martijn_vdb
@VasilyPonomarev, Thanks for the idea!
karim218
i heartlfully apriciate...may god bless u ...
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