First Touch of the D-Res is Completed. What is Next?
Pair -
USDJPY
Trade Idea - Looking for Go short
First and foremost, both the 100 and 200 MA's are signalling a downtrend because they are both sloping down and the smaller MA is below the longer MA. That is to say, the market is in our favor.
Next, as shown in the chart, price completed the initial touch of the D-Res, indicating that we should look for a bearish breakout to the downside to enter a sell trade.
Stay Touch with this trade idea. We will keep you update.
USDJPY
Trade Idea - Looking for Go short
First and foremost, both the 100 and 200 MA's are signalling a downtrend because they are both sloping down and the smaller MA is below the longer MA. That is to say, the market is in our favor.
Next, as shown in the chart, price completed the initial touch of the D-Res, indicating that we should look for a bearish breakout to the downside to enter a sell trade.
Stay Touch with this trade idea. We will keep you update.
Trade active:
Short this pair as the price break below the trendline. Used retracement entry to get in to this trade
Short this pair as the price break below the trendline. Used retracement entry to get in to this trade
Trade closed: stop reached:
Trade Closed for -10 PIPs
Trade Closed for -10 PIPs