Breakout Test?

The green shaded area is the Monthly tenkan area which was broken in the 1st half of October,it was also the weekly Kijun back then. This breakout was never tested and we know if price is to really go further it needs impetus from a breakout test. Our trade is this breakout test. So we take this trade on the daily after having broken the daily tenkan to the downside and tested it, this daily tenkan test on 18 November created what looks like a lower high for now, which is good confluence for our short. The Kijun is still below tenkan on the daily (normally we want the opposite for a short) but we will take the trade anyway because on weekly we have a flat tenkan,indicating loss of momentum for the upside.

Entry: 79.85
SL: 80.368 ( slightly above our lower high)
TP: 78.975 (weekly and monthly tenkan zones)

NB: Manage your risk so you can trade another day!!