Short with huge profits in the long term!

FX:USDJPY   U.S. Dollar / Japanese Yen
1. the main trend goes down.
2. a double top is forming out
3. Price bounced off that resistance

Aren't that 3 good reasons to go short?

Tel me what you think!
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from here could be long ?
Evan_Moe_Money JoeMatkinFX
@JoeMatkinFX, Honestly, I don't see a clear picture now. IF it is a good doublet, then the price should break the neckline, and continue falling. For now, I take my profits, lean back on this one, and observe. Once we get another good entry, I will let you know. If I am not sure, I say nothing before making false promising.
Enjoy the rest of your sunday
JoeMatkinFX Evan_Moe_Money
@Evan_Moe_Money, Appreciate the reply! I was just thinking it looks like its in consolidation near support so possible upside. Have a great day :)
Evan_Moe_Money JoeMatkinFX
@JoeMatkinFX, Tell you something, it is pretty realistic that the price goes up again. We are in a channel, and price could also be forming a flag. But thats the thing about patters. If you look for them, suddenly you see them all over the place.
Look a specific car brand, and suddenly it seems people are driving only one brand at all... So I looked at the chart, and I think we really are in a kind of a channel and so the price should go up again. Even if the price is forming a Flag, or a triangle, price should go up, or should have broken out already.
Evan_Moe_Money JoeMatkinFX
See? You were right! It looks like the price will go up all the way to the top of the channel right now. Just keep in mind, we are in a long term downtrend and the price could turn around every minute (I usually try not to trade against the trend)
JoeMatkinFX Evan_Moe_Money
@Evan_Moe_Money, Wow i was right i'm happy ahah. I will trade this with caution good luck to you also!
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