Head and Shoulders USDJPY 4 H short

17 lug 2017

Thanks to "justshortcut" from the private chat we have this H S trade on the 4H. You may have missed the 1st entry at the break of the neck line but there is a possible 2nd entry. Go to the 30 m chart and draw an ascending trend line where price is currently. Break of that trendline with a "Break-Hook_Go" (Break trend line, Hook back to trend line then Go) on a 15m or 30 m would be your entry. 1st TP is found at the support swing low that began the H&S. The 2nd optional choice for a TP is the length from the top of the Head to the horizontal line drawn at the neck. There is 150 pips so we measure 150 pips from the neck line (113.00) so the TP would be at 111.50.