USDJPY 1st November shows hammer candlestick and prices breakthrough Double bottom support line! A potential bearish signal

Hi fellow traders,

Today I have made my trade on USDJPY on a H4 timeframe at price 80.51.
Okay, now lets look at the chart below :

USDJPY on 1st November

 

 

My analysis told me that it would be a bearish trend for now as it has broken through the double bottom, and has a confirmation candlestick.
So, what do you think about this pair at this time?

Regards,
Daniel

USD/CAD on H4, 29OCT2010

Hi, though the market is closed for now, but I want to share something that caught my interest. Here is it...

Alright, this is what I have in my mind...
If the market opens, and..
1) The price goes up until the 38.2 level of Fibonacci Retracement
2) Cross above the MA


I will treat that it has uptrend and make my entry(long) at 1.0221 with a stop loss of 15pips.

another way round, if..
1) price drops further below the 50.0% of Fibonacci Retracement
2) Break through the support line
3) trend moves below the MA (already in this condition)

I will enter the market with a short at 1.0150 with a stop loss at 50.0% level.

Can anyone share what you would do if you meet this situation?