Posted by millionaire | Sunday, December 09, 2007 | | 2 comments »


hello,

i see a double top pattern at my daily usd/jpy chart,this is a reversal pattern.i prefer to take a sell position because i think usd/jpy up for correction only,and usd/jpy could resume the downside target around 161.8 fibonacci level at 104.26.while the risk reward is good for sell position,i think 50 to 70pips stop loss is enough.adx show a weak bearish momentum then my reason for selling just for double top pattern,then the correction is complete base on my technical view.u should leave a comment or your opinion too.tq all and happy trading;)

2 comments

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  2. dyan // 4:55 PM  

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