I believe this will take a big fall, price appears to be heading towards its previous high and is moving away from my key level
I am going to wait until price breaks this support zone and the trend line before selling
As we can see from the chart, price has broken through support and is now consolidating above another level of support
It did this previously and then dropped to the next support level
I expect the same thing to happen here, just waiting for confirmation before we take the sell
I anticipate price will reach its previous level of reistance before any major moves happen, we can go long on this for the time being but im going to wait until i see confirmation of a fall
I can see a pretty big fall coming $$$
NJ here. This pair has failed to break this resistance level for over two weeks now, with a correction over the past few days due to the corona virus manipulation it has come up too a level of interest. Upon a daily candle closure forming as a shooting star, doji or spinning top, I will be looking to take short trade from the purple box region. Taking partial...
this is a very basic concept of a structure trade. As you can see above on NZDJPY price just came out from a consolidation period and put new structure highs. At this moment i know my bias would be long; but i can't enter a trade long on the top of the movement, i should wait for price to give me a better entry in order to catch the upward move.