Based on Monthly Chart (Candles), it looked like a confirmation of bullish might appear. But wait until November monthly candle actually completed. Based on the information above, I would enter long. I would enter long ... may be in 2nd week of December. I would not enter in the 1st week of December, because based on weekly chart, it looked bearish ... it could...
If the market keeps dropping we have two patterns forming, if the market goes up, please see analysis of trade in the link named " Planning both ways "
Post FOMC Statement the pair has created a double top and dropped steeply down into a bearish pennant. This is a continuation pattern so the bias is bearish and I expect a break out to the downside and target the length of the pole to the low of the candle that was created when the FOCM statement was released (120.02).
USDJPY has been consolidating under the 125.86 multi-year high (June 5, 2015) for over 2 months. If the current rebound off the 120.42 low (July 8, 2015) breaks above 125.28 then 125.86 (as shown on the daily chart), that would confirm a higher base at 120.42, extending the current 12-month upswing towards 126.82 and then 127.50. The 123.79/123.01 support zone...
The trend may reverse at this level due to :- 1- Completion of two ABCD pattern. 2-1.414 Fibs extension for AE Leg 3- 1.27 Fibs extension for FG Leg 4-1.27 Fibs extension for LG Leg. 5- 0.618 Fibs retracement for BA Leg. 6- 0.500 Fibs retracement for DA Leg. 7-4- Valid previous structure level.
Update: It looks like we had another tiny rally made the B leg a fraction deeper. Adjust the trendline accordingly. We should have a drop within this channel.trend following down to the end of (E) leg. I was wrong about the finish of A leg, But We did get a very deep B leg just now, after finishing a zig-zag A leg. The C leg should be 5 wave impulsive, but I...
USDJPY is very attractive in terms of graphics and technical. The cross is working on a fundamental area for the next swing. The tightness of the support (61.8) could trigger a bullish acceleration up to at least 121.50 area, then to have the possibility of a rupture of the maximum groped. On the other side, a close below the KEY LEVEL AREA could trigger a...
118.05 - 117.80 can be realized under the tape retention should be followed. This can also occur with those of the bottom 4 closing afternoon band . Charter can be targeted provided that if the 117.05 level .
Bearish bat pattern is forming in H4 in line with the bearish trend in H4.