USDJPY H4 ANALYSIS - THE FIBS SELF FULFILLING PROPHECY ?
Since our last update, I drew the red line splitting the turf where the bears have traced their line of defense.
Price was rejected BIG time. For the non-sayers, It was traced BEFORE not after it happened. Writing posts after it happens is the
equivalent to tell us how the weather was yesterday. Useless info.
Now, Wed Aug 12th 2020, bulls have been rising price levels and will try again to hit the red line. If successful, the a strong bullish run
is coming for UJ.
What is more important is : S and R levels along with properly drawn Fibs levels were respected by price.
We got 3 opportunities to go short and be profitable. The 4th time fibs were broken and result in a loss.
Is this just a coincidence or maybe by just luck TA works??
I don't know but the more I analyze charts the luckier I get.
Thanks for your nice comments, likes, and messages.
Price was rejected BIG time. For the non-sayers, It was traced BEFORE not after it happened. Writing posts after it happens is the
equivalent to tell us how the weather was yesterday. Useless info.
Now, Wed Aug 12th 2020, bulls have been rising price levels and will try again to hit the red line. If successful, the a strong bullish run
is coming for UJ.
What is more important is : S and R levels along with properly drawn Fibs levels were respected by price.
We got 3 opportunities to go short and be profitable. The 4th time fibs were broken and result in a loss.
Is this just a coincidence or maybe by just luck TA works??
I don't know but the more I analyze charts the luckier I get.
Thanks for your nice comments, likes, and messages.