USD/JPY Revised Bearish White Swan Pattern
An updated Bearish White Swan Pattern for USD/JPY which
I already posted last week, however, as price surged higher
the entry and stop/loss levels have altered slightly.
Note that this pattern will be invalid with a close above the
111.874 level (3.140 of BC).
Trade 1 short (RvR ratio 3.27)
Entry: Close below 110.950 and below 10 SMA)
S/L: 111.500
T/P 1: 110.538
T/P 2: 110.009
T/P 3: 109.632
T/P 4: 109.152
Trade 2 short (RvR ratio 2:1)
Entry: Close below and rejection at 109.152
S/L: 109.405
T/P 5: 108.646
As always, scale out your profits - especially now with a
strong DXY exit strategies are crucial - and adjust stop/
loss levels to suit your personal risk management profile.
Happy trading
I already posted last week, however, as price surged higher
the entry and stop/loss levels have altered slightly.
Note that this pattern will be invalid with a close above the
111.874 level (3.140 of BC).
Trade 1 short (RvR ratio 3.27)
Entry: Close below 110.950 and below 10 SMA)
S/L: 111.500
T/P 1: 110.538
T/P 2: 110.009
T/P 3: 109.632
T/P 4: 109.152
Trade 2 short (RvR ratio 2:1)
Entry: Close below and rejection at 109.152
S/L: 109.405
T/P 5: 108.646
As always, scale out your profits - especially now with a
strong DXY exit strategies are crucial - and adjust stop/
loss levels to suit your personal risk management profile.
Happy trading
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