Here we have an ascending channel and we have finally had 3 touches of the upper trend line (blue circles) suggesting a move towards the downside. We have also broken another trend line that has been respected.
Market structure has also changed as price has now created a lower low marked by the red circle.
Price is now currently retesting this broken trend line...
I am new to trading & any advice or feedback is welcome via comments or in the chat. Looking for opportunities to learn new information & techniques.
I have done some analysis on the USD/JPY . The analysis has been done on the on the 1 day chart
The price has just touched the trendline now I will be going short on this pair when the market open on Monday, as...
I AM LOOKING FOR THIS PAIR TO GO SHORT HOWEVER I WOULD LIKE TO SEE THIS BULLISH TRENDLINE BREAK AND FOR EVEN MORE CONFIDENCE OF TAKING THIS SHORT I WOULD WAIT FOR THIS TO REACH BELOW THE 79.60 LEVEL.
WE HAVE GOT A NICE SUPPORT AROUND THE 77.60 MARK SO THEREFORE THIS WOULD BE MY TP LEVEL.
WE HAVE JUST HIT THE 61.8% ON FIB AND SHOWN REJECTION SO THIS WOULD BE A...
SHOWN A STRONG RESISTANCE ON MONTHLY KEY LEVEL AND WE DID HAVE A PULL BACK TO THE UPSIDE CREATING A BEARISH FLAG
TOUCHED THE 50% MARK ON FIB AS THIS HAD BEEN RESISTING THE 50% FIB MARK 5 DAYS IN A ROW
BROKE BULLISH TREND LINE
IN A WEDGE TREND AND I WILL BE LOOKING FOR MY TP TO BE THE -27 MARK