USDJPY - Trend Analysis + Fib Retracement (SHORT)
We're currently retesting a massive resistance line which has been traded around for the past couple of months (110.423).
IF we break below the BB:Basis (brown line) and additionally break below the previous bull run resistance (upper orange line), we're in for a ride down to the 38.20% Retracement level which also is the support for the current parameters the price is bouncing around (109.733).
Risk Reward Ratio is about 4.7 to 1, so this is an incredibly profitable trade to get into.
PLEASE NOTE: This is not financial or trading advice. Be responsible for your own trades, and make your own judgments.
IF we break below the BB:Basis (brown line) and additionally break below the previous bull run resistance (upper orange line), we're in for a ride down to the 38.20% Retracement level which also is the support for the current parameters the price is bouncing around (109.733).
Risk Reward Ratio is about 4.7 to 1, so this is an incredibly profitable trade to get into.
PLEASE NOTE: This is not financial or trading advice. Be responsible for your own trades, and make your own judgments.
Trade attivo
Commento:
Confirmation hit
Commento:
Double head, then dropped down to target.
Trade chiuso: obiettivo raggiunto
Commento:
Perfect correction and reversal @38.20 retracement level
Commento:
Woah. Took quite the shit there.