www.varchev.com

Deep retracement or reversal give chance for SHORT position

Formation of Rising Wedge and RSI Divergence on 4h chart at USD / JPY, show weakening of the bullish movement and possible deep correction or complete reversal of the trend.

Entering after breaking the trend line and closing the bearish candle below 20MA on bollinger bands. SL can be placed above the resistance level, and the TP at level 105.
After successful bearish movement, some of the profit can be closed on support 108 and the SL can be moved lower.


 Trader Georgi Bozhidarov


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance