USDJPY - Weak Divergence + Potential H&S @ M Resistance - MTFA

1 Feb 2022

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*** Not every idea is also traded by us ***



Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and afterwards some bullet points.



Monthly TF:



- We had an Uptrend
- Followed by an Triangle (Continuation) Pattern
- The market broke out of the Trendline and made a bullish movement
- Now, it reached the monthly Resistance
- Down-Movement expected
- Up movement in the Future is possible after the Down-Movement which would be the Pullback then

--> Down-Movement expected



Weekly TF:



- We can see the Up-Movements with its higher Highs and higher Lows
- It built some weekly Support Levels throughout its journey
- Now reached the monthly Resistance
- Down-Movement expected towards a Support (also possible to not reach any weekly supports. In this case it would turn the down-movement anywhere and would make a higher Low)

--> Down-Movement expected



Daily TF:



- We here can see a potential Head & Shoulders Pattern --> Trend Change
- We also see a weak bearish Divergence if we look at the RSI Oscillator

--> Down-Movement expected



H4-TF:



- Trading Possibility: Wait for the next Pullback to enter


H1 TF:



- How can a Pullback occur? --> Potentiall when TL breaks




If you have any questions, another POV or anything else to share, feel free to do so!




Thanks and successful Trading :-)!