This pair is forming a series of corrective structures (abc or wxy). It seems price now is developing one more abc structure, price is currently at wave B
Details on chart.
More reasons:
- ema 200 as resistance - convergence - divergence setup - round level 185.000 as resistance
Best regards.
*****************DISCLAMER******************************************************************** This is just and idea, not a recommendation to buy or sell. Always do your own analysis and plan before opening a trade. Any respectful and constructive ideas are welcome (agree or disagree).
Trade closed: target reached
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All targets reached
Comments
imranafzal4
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BLKS
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ya, if it break down most probablysame thing will happen for usdjpy
imranafzal4
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yep agree
BLKS
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seem like break out is failed
imranafzal4
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its not gonna break today its gonna break tomorrow just keep eye on day close where does it close today it is important
BLKS
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ya... we can have another short at retracement to 0.618 or 0.786
imranafzal4
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i dont think so it will retrace to that level any time soon because pressure is very high but let see how it will close today
BLKS
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the reason i sat like that is because i expecting a gartle pattern to be form.