This short is based on previous one I showed in last post. However, this time we have a higher timeframe TL break with retest of the trend's extreme. This is currently a forming double top, and the swing we could catch from this reversal is possibly quite extended. Most optimistic swing is targeting the last major swing low as in the chart above.
I will still look to scale out at the standard head and shoulders target (see below my post on ltf H&S pattern) as the dollar yen is still in a strong bull trend and a short now only makes sense as the current trend's impulse leg seems to be ending to retrace for a while.
No financial advice in here.
I will still look to scale out at the standard head and shoulders target (see below my post on ltf H&S pattern) as the dollar yen is still in a strong bull trend and a short now only makes sense as the current trend's impulse leg seems to be ending to retrace for a while.
No financial advice in here.
