Getting back into the trading game with an fresh idea. Unsure of my analysis on this. If I see a retest of the resistance level with a move across the moving average, i would be looking to take a short.
Historic structure shows that there is probably more potential upside movement and therefore, will be more inclined to take a trade with a move to the upside,...
Large sell off however, trading within trend lines. I believe it will consolidate around 1.13370, then making a move to the top trend line, in line with previous highs of consolidation in previous days. Has found resistance around this level previously this month.
Will await re-test of the bottom trend line and confirmation of consolidation around 1.13365-1.13370...
Possible reversal of trend on the 30m chart of USD/JPY. Trend lines moving bearish in general and tested the support of the bottom trendline. Previous pattern shows possible head and shoulders pattern, also possibly indicating a trend reversal.
Looks to be a possible short on a bullish rally as part of this.
Please let me know what you think as I am new to...
EUR/JPY formed a wedge on the hourly chart.
My first analysis published on TradingView. Lots of consolidation on this pair recently and would be looking to initiate TP around the 124.390 mark.
Please give your feedback and help my develop.