I'll be scouring the charts for "actionable masterpieces". These will be signficant chart patterns or set-ups that I feel are not only tradeable, but also have a high probability of making big profits with little risk. Whenever I spot an "actionable masterpiece", I will post an annotated chart (my chart art) along with an explanation. My goal is to help you learn how to spot these low ocurring but highly profitable "actionable masterpieces" yourself.
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| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 |
This pair has been in steep uptrend but looks to be tired. A nice little doji at the "peak" of its swing is a sign that maybe the tide has turned. There's also bearish divergence with price making a higher high while the oscillator is fading.
I'm going to short now at 97.85. My stop loss (SL) will be 98.40. My profit target (PT) will be 96.80.
Sell AUD/JPY @ 97.85 | SL: 98.40 | PT: 96.80
