Trade Idea: Short Setup USDJPY
Main Items we can see on the 4HS Chart:
a)The price is Below the Broken ascending trendline and the resistance zone
b) The combination of the two mentioned zones makes a major resistance level in which there is a Flag pattern formed
c)Flag Patterns are considered continuation structures
To better understand this trade Idea lets take a look to the Daily chart:
Based on this we expect a full breakout of the Flag pattern and a continuation of the bearish movement towards the next major support zone. Is really important to pay attention to the middle support levels because Corrections can be formed there or even reversal structures.
The Stronger item of the setup is where the stop lose is placed, This way is protected by the ascending trendline that works as a major resistance level.
*Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.
Main Items we can see on the 4HS Chart:
a)The price is Below the Broken ascending trendline and the resistance zone
b) The combination of the two mentioned zones makes a major resistance level in which there is a Flag pattern formed
c)Flag Patterns are considered continuation structures
To better understand this trade Idea lets take a look to the Daily chart:
Based on this we expect a full breakout of the Flag pattern and a continuation of the bearish movement towards the next major support zone. Is really important to pay attention to the middle support levels because Corrections can be formed there or even reversal structures.
The Stronger item of the setup is where the stop lose is placed, This way is protected by the ascending trendline that works as a major resistance level.
*Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.