USDJPY HEAD & SHOULDERS DOUBLE REVERSAL PATTERN

This morning we conducted a very good lesson on the $USDJPY talking about how the market leaves clues & it's up to us as traders to uncover these hidden gems & use them to find quality trading opportunities. In this $USDJPY example the two clues that we uncovered were the potential for 2 reversal patterns.

The first clue was a retest of previous structure highs and a hold of that resistance level.

The 2nd clue is the potential head & shoulders pattern that is now setting up.

There's also a Cypher pattern from the Daily Chart, but technically this pattern formation has been invalidated.

Getting ready to record a video on this pair where we can take a deeper look at things, but this is certainly a selling opportunity that will be on my radar heading into tomorrow's trading day.

Akil Stokes
Trade Empowered
"plan your Trade, Trade Your Plan"

Kommentera:

We've gotten our break of the neckline, which confirms the head and shoulders pattern

Kommentera:

Currently recording a follow up video on this pair, I'll be posting an update chart as well