We had three consecutive weeks were the market tried but failed to penetrate the weekly Tenkan on close. The story here is the bulls just dnt have what it takes to break this barrier. The market likes paths of less resistance so the upward failure can only mean one thing....the bears are going to come in. The 1st target would be the weekly Kijun and then after that we have an area close to the low of the month. My stop loss is slightly above the three candle wicks...if we get get there and close above the Tenkan that means invalidation. Otherwise looking very red for Visa.
Entry: Two small positions @ 177.85
SL: 181.14
TP1: 172.04
TP2: 169.05
Entry: Two small positions @ 177.85
SL: 181.14
TP1: 172.04
TP2: 169.05
Trade closed: stop reached:
Just got knicked out by the surge
