Analysis done on the daily timeframe. If you follow me you may remember i posted a chart predicting the CJ short. FOMC was the main factor behind this move as i didn't expect it to go down as much as it did, but now is a great opportunity to look for buys. As you can see, i have a trendline drawn. Price has respected it each time it's come down. I also have some key support and resistance levels identified, as well as supply and demand zones. Price has bounced up from the middle zone already and it will probably keep retracing for a bit before coming back down. I'm personally looking to buy somewhere from the bottom pink zone, but it depends how long it takes for price to go down there - I may look to buy from 118.080 instead. I'm going to wait before i start entering anything. Updates to follow, follow me to see them.
Nice work, looks like a decent set up to short that supply after the heavy recent rejection
Sobhan_23
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Nice job but a little soon to look for a buy setup good luck 👍🏻
darbova
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@Sobhan_23, i know, i'm not looking to buy yet. As i said, i'm looking to buy from the bottom pink zone which is about 200 pips away from where price was when i posted this chart (idk where it is now). Good luck to you too!