Daily (FXDD demo) chart of USD/JPY. Shorted this pair with Oanda , just 2K worth.
Reason for short entry:
1. Price projected Lower High and OSC showed Higher High. This is bearish divergence. Although I should have waited for price to close below the BB mid line, I decided to test my 'luck'.
2. Price hoover inside the upper BB, not once penetrating above it. Based on previous studies, if prices almost but did not, touch the upper BB, price will fall towards the lower BB.
3.Price fell below the opening of the week. Dotted yellow line indicate where the week opens. Price went up on Monday above week's open and it has been falling since, crossing below the yellow line, shown below in 4Hr Chart.
Just testing with $2K,..and as of now, it's showing a negative 18 pips đŸ˜“. Stop loss will be above the slant green line.
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Update :
I went in to short 100 units with CityIndex, this is the minimum volume allowed.
Currently order, 100 units short with CityIndex and $2K with Oanda.
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