Rising Flag formed on USDJPY
The price broke down and showed further drop to come.
We also had peripherals confirming.
200>21>7 - Bearish
RSI<50
Target 126.48
With SMC (Smart Money Concept)
First when the price broke below the Rising Flag it also made a Change Of Character (CHoCH). This just means, it broke the uptrend and into a downtrend, which confirmed.
In terms of looking for supports (Level of Liquidity), we can look at previous levels.
Which you can see where the target is a LOL and Sell Side Liquidity order block.
I'm happy to keep holding short for now.
The price broke down and showed further drop to come.
We also had peripherals confirming.
200>21>7 - Bearish
RSI<50
Target 126.48
With SMC (Smart Money Concept)
First when the price broke below the Rising Flag it also made a Change Of Character (CHoCH). This just means, it broke the uptrend and into a downtrend, which confirmed.
In terms of looking for supports (Level of Liquidity), we can look at previous levels.
Which you can see where the target is a LOL and Sell Side Liquidity order block.
I'm happy to keep holding short for now.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.