USDJPY short

15 ביולי 2021

D1 (Higher timeframe - trend direction):
Looking for a clear trend and support & resistance

• Lower low - lower high on D1 (clear downtrend)
  
• Resistance level på D1 has been respected
  

H4:
Looking for countertrends

• Nice long pull back (countertrend) on the H4
  
• Price er closer to the upper trendline (lots of headroom for the price to continue down)
  
• H4 Trendline has now been broken and price has retraced back to a D1 resistance
  

H1: (trading timeframe)
Looking for dobbel top patton for confirmation

• H1 candle closes past the last H1 fractal
  
• Price returns and closes near the H4 50% Fibonacci level
  
• Dobbel top on D1 resistens
  
• Bearish candle (selling pressure)
  

SL/TP

• Aggressiv stop loss (last fractal top/bottom) for better risk to reward.
  
• The big players know they can get liquidity around that area (some call it stop loss hunting) so a 1/2 H1 ATR is added to the stop loss
  
• Target: 1,618 Fibonacci level