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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Resistance at 120.50 has been holding up really well. There's bearish divergence present which tells me bulls are possibly tiring here. There's been a nice lil uptrend but now I see this pair falling but not without a possible quick upward spike first.
I'm going to short this pair at 120.50. My stop loss (SL) will be 120.80. My profit target (PT) will be 119.00.
Sel USD/JPY @ 120.50 | SL: 120.80 | PT: 119:00
