2 scenario as stated... awaits for the price movement to breaks either Fibo 0.5 or 0.618. with little profit - short term trading....
Comments
khairulsalleh.hasan
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dear charttreader, this chart is more on chart analysis and i did not take fundamental news for JPY... however what ever scenario and outcome of the news will incorporate in the chart... if it is good then price move up vice versa as stated in the graft ... it is just a matter where to enter position...
Chartreader
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off course. Chart reflects the market. Thanks
Chartreader
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Hello Hasan
Nice drawing. But do you have any fundamental news for JPY?
khairulsalleh.hasan
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it seems that the price movement did breaks the 0.618 Fibo At 132.839 and went down but it doesn't really touch our target line....(must clear position after seeing the double bottom candle pattern formed before it reverse to the upside, if not we are in the lost position).
later it then breaks the 0.5 Fibo at 133.33 and went up, and again it doesn't really touch our target line at 133.83)
basically both ways is a profit provided that you must knows when to exit ( close position). happy trading...