+++ Don't forget to LIKE & Follow+++
I have my eyes on potential structure trade on 1H, USDJPY - looking for shorts.
If you look left you will see that price closed lower than PB (PullBack), confirming a bearish rotation in the market.
We can clearly see a kill zone(blue box) between previous PB and structure - and it should come as a surprise for you that price hit that kill zone and reversed.
I'm expecting price to test once again the that cycle top forming a Double Top with RSi being overbought on left top.
Stops will be based on that Double Top, for targets - retesting the NSL. We will get a little bit more than 1:2 Risk/Reward for that bearish rotation opportunity.
Good Luck!
-Alex
Professional Currency Trader & Owner of www.beaprofitabletrader.com
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.
I have my eyes on potential structure trade on 1H, USDJPY - looking for shorts.
If you look left you will see that price closed lower than PB (PullBack), confirming a bearish rotation in the market.
We can clearly see a kill zone(blue box) between previous PB and structure - and it should come as a surprise for you that price hit that kill zone and reversed.
I'm expecting price to test once again the that cycle top forming a Double Top with RSi being overbought on left top.
Stops will be based on that Double Top, for targets - retesting the NSL. We will get a little bit more than 1:2 Risk/Reward for that bearish rotation opportunity.
Good Luck!
-Alex
Professional Currency Trader & Owner of www.beaprofitabletrader.com
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.