USDJPY - RSI & Stochastic Oversold! - and other confirmations
Updated
Hi Traders!
The market is in a strong Downtrend.
As you can see the market also reached the Support.
The momentum of the price decreased too.
The market is at the moment in a descending wedge.
The Trading Idea is simple: Just wait for the Break of the Upper Trendline.
We have these confirmations now:
* RSI is oversold
* Stochastic is oversold
* Market at daily Support
* Decrease of Volume after High Price Action
The faster the market reaches to a S&R Level,
the deeper it bounces back (in usual situations).
We recommend to trade the Breakout with a wide SL.
Thanks and successful Trading :)!
The market is in a strong Downtrend.
As you can see the market also reached the Support.
The momentum of the price decreased too.
The market is at the moment in a descending wedge.
The Trading Idea is simple: Just wait for the Break of the Upper Trendline.
We have these confirmations now:
* RSI is oversold
* Stochastic is oversold
* Market at daily Support
* Decrease of Volume after High Price Action
The faster the market reaches to a S&R Level,
the deeper it bounces back (in usual situations).
We recommend to trade the Breakout with a wide SL.
Thanks and successful Trading :)!
Note
The RED BOX specially for you, in THIS comment:
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