Watching Eur/Yen

We are at a very important trendline here (dating back to mid-May.) FX Membership is going to go short if the 4H chart has a close below 1.3493. Take a look at this trendline I drew...and a break in it could signify a short a little higher up. (Click on chart.)

However, the new trading 'tool' I am using is a lot more conservative...FX Membership. It seems that you are giving up some profits in return for much more of a sure thing. Now, in trading, there is no such thing. But in this case...a close below 1.3493 on the 4Hour chart is much more damning for the pair then a trade based solely on a break of the above trendline.

Another way of determining if the above trade will hit is looking at the possible chart from Market Club. Although the pair made and closed at a new high, I think we will get a retracement first. It is an excellent complimentary indicator because it helps determine the trend beforehand...great way to be thorough:

As you can see, I have no trade triangles showing...but the trend seems to be down when you look at the Williams% (clicking on the chart gives you a clearer view.)