A strong reversal signal | 17 November 2016

17 November 2016, USD/JPY

Daily chart: a good bearish pinbar was formed after a strong movement (plus the one generated from the round price level 110.00), may be a signal for start of correction to the middle Bollinger band (105.26)

A strong reversal signal

Н4: ADX/RSI is also in a correctional phase. Support lines 108.24 and 106.46 (middle and lower Bollinger band, respectively) can drop.

A strong reversal signal

Н1: by the time of this publication, a bearish pattern Over&Under has been formed with the sale entrance point in 109.30. An upward pullback can start in the area of 108.24.

A strong reversal signal

Expectations: a rollback to ​​109.30 followed by the main phase of a downward reversal.

Solutions: Put Limit sell orders at 109.30 with Stop orders above the last peak, ​​profit shall be settled at 106.46 (extraday)

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus