Now for you traders that do understand! If you start off looking at the daily time frame you would see that price was in a range since about early January of this year. Two days ago price broke out of the range but currently appears to be correcting itself. What we are expecting is that price corrects and then rejects the range support turned which sits about 1.65287. This brings us to the H4 time frame where we see price has corrected and is now rejecting Kijun which is the blue line and is a level within the system, Thing about this pair is that it is spiky which I do not like. Also if price moves higher than the rejection candle high then all bets are off and we would move to our next level at the daily bear sitting at about 1.67176 area. Ok it's about 4 am and something woke me up to put this setup online so back to bed. Have a great trading day and God bless!
ChaosTrader63 Managing Director & Trading Coach
http://www.fxatoneglance.com - Look At The Financial World With A New Glance