trading plan for dollar yen: head and shoulders + structure

good morning everyone,

everyone is looking for selling opportunities on this pair right now,
being a confirmation trader, I always look for confirmation signals before
I execute any order.

looking left you can notice that the market has reached a decent level of resistance.
RSI shows us clear bullish exhaustion being overbought with divergence.

also, we see the formation of a classic reversal pattern - head and shoulders .
I will be looking for a bearish breakout of a neckline to sell the market.

targets will be based on structure,
however, you can extend your second target to 109.8 - retest of the low.

good luck!

Yorum:

bearish breakout