Textbook false break reversal setup forming on USD/JPY. Daily inside bar at the upper bollinger band followed by a false break to the upside. Going to enter this trade on the close of the 7/19 candle, placing my stop a little above the high of that day, and my take profit down at the lower band.
These setups are slightly rare, but extremely powerful; they often...
Nice false breakout of the inside bar pattern in line with the daily, weekly and monthly bearish trend. Entered at the close of the 4/4 candle. SL is just above the high of the false break, and and looking to take a 4:1 profit on this trade.
