All stocks will continue to rise. No more corrections, or recessions. Doesn't matter if there is economic halt, riots, or retarded POTUS. What's matters is the FED's balance sheet, which can inflate infinitely. When there are no JUNK bonds ETF left to buy, there are stocks, penny stocks and when there will be nothing else to buy, FED will start to buy...
Seeing as today is Canada day (sorry), and it's about to be a big fat 3 day holiday in the US my view is that everything US is going to rise today in value in preparation for the break.
In the case of the USDJPY I am currently now open with 100 points in fx spread LONG with the red horizontal ray at 102.3 dictating my stop.
Not really sure how far I want to let...
A weekly close above key monthly resistance last Friday above 0.7550 gives us projections of upside potential to weekly resistance at 0.7780. Statement is supported by Fibo extension level 161.8%, a weekly break and close of monthly resistance @ 0.7550 , bullish engulfing candle pattern. We are waiting for further price action.... a retest/consildation around ...
I noticed the gartley pattern first. As you can see the deep AB leg caused a big reversal zone. I would wait for a better entry reason, but it all depends on your risk/ratio-liking.
I also noticed the double top w/RSI divergence at the C leg that's setting up a possible 2618 trade. You could ride the train down to the D completion point, but I would atleast take...
