USDJPY : POSSIBLE LIBRA PATTERN
The price has tested the crucial resistance area 106.160-106.765 and break the trend line thereafter. So i am interested to short for the libra pattern. For a safer plan, we can wait for price to break area near 104.987 and sell the pullback.
TRADE IDEA 1 :
SELL AT NEAR 105.793 (WATCH PRICE ACTION FIRST)
SL : 106.460
TP 1 :103.967
TP 2 : 100.50
TRADE IDEA 2 :
SELL THE PULLBACK NEAR AT 104.987 (DEPENDS ON PRICE ACTION)
SL : 105.257 OR ABOVE THE REVERSAL POINT
TP 1 : 103.967
TP 2 : 100.50
TRADE IDEA 1 :
SELL AT NEAR 105.793 (WATCH PRICE ACTION FIRST)
SL : 106.460
TP 1 :103.967
TP 2 : 100.50
TRADE IDEA 2 :
SELL THE PULLBACK NEAR AT 104.987 (DEPENDS ON PRICE ACTION)
SL : 105.257 OR ABOVE THE REVERSAL POINT
TP 1 : 103.967
TP 2 : 100.50
Comentarios:
Strict SL is required, if SL is hit, LEAVE!!
Comentarios:
I re-entered a short position at 106.40 with smaller lots, strict SL is required at 107.00