UJ Prediction : All last week the overall trend was extremely Bearish with a lot of strong pushes to the downside . We ended the week with the market giving us confirmation of the trend being broke when it closed above the zone detailed above . Zoom in you’ll see the evening star pattern in which it tried to make a final push to the down side detailed above . In which that bottom demand zone has a strong support and price was unable to break through. Depending on how the market opens it should come down and retest that zone which is perfect on the Fib at 61.8 and push to the upside. deff looking to being a short term buy in which the supply zone where the blue arrow is, is support and previous resistance so a lot of price action in that area if it breaks that zone , it can deff end up being a long term buy . Remember , No retest no entry !!! follow me on Instagram for more analysis @ChasingWealth93 , have an AMAZING week.
Comment:
Just to give an Update on my UJ prediction , price never came down to retest that lower zone where their was heavy price action. But Paying attention to the DXY index the dollar was extremely Bullish and Bearish early this morning, so pairs like EU shot up when the Dollar was bearish and when the Dollar went bullish UJ started making its move to the upside. Im definitely looking for price to pull back and push off a major PRZ level to create higher high's and higher low's to secure my entry .. #Noretest #NoEntry...more to come
Trade active:
Now we are back to my original prediction from the 21s. Price came down and re tested the area that broke out to the up trend around (112.19). There was heavy support around (112.08) and that was a demand zone as well in which price had several failed attempts with previous price and indecision to break that demand zone. It also rejected off the 23.6 on the fibs which is rare but it will still get the job done.When price showed that it was not going to break that demand zone was a perfect opportunity to buy and as of right now we secured 52 pips. I still believe this has the potential of going long , but continue to wait for your confirmation. Not to bad for my first technical analysis doing exactly what I drew up. #happyTrading #WealthBuilders