Bearish Karma | 25 August 2015
25 August 2015, USD/JPY
The daily chart: a massive swing down without any sign of the end. simply nowhere to go, so you have to wait for a signal tomorrow (or on the lower frame). Previously, trading tactics will be expectation of rising swing to sell on the top
.png "Bearish Karma")
H1 chart: identical pattern - long swing down and no corrective swing upwards. Until there is no ready pattern, there are no reasons to open trades.
.png "Bearish Karma")
Scnearious:
1) Continued decline from current levels to new Lows.
2) Roll back up to 120.40 and then a new swing down on the breakout of the last bottom (116.17)
solutions:
1) Sell from 120.00-120.46 with the target 116.00
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
