usdjpy short 101.089 It's a bit of an early call out, but the price currently sits under the angular trend line at 101.69 resistance level & the downward facing upper trend channel. The falling Arc will guide the price down to it's big brother @ the support level 101.089. A fall below this level could see UJ channelling it's self out of the arena
Comments
vdubus
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@ThlunTan sorry I didn't see your comment.
I Only use the arc as a guide. Each time you get a lower low/ higher high etc Arc's to me are how the price moves. Zoom out a little on your charts and you'll see them form all over the place. It comes under 'Rounded Bottoms & Tops' but these are formed over time. You'll notice that the price always returns back to the level where the arc originally started but with in the trends. Works on all time frames especially on the 1 min, . Tip - if you see an arc forming at major support @Resistance levels it's an indication of it rebounding.
vdubus
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I messed up a bit on my trend lines. Focus on a higher time frame shows that we're still inside the down trend.
vdubus
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Update- price crept out of the downward but I'm still holding in for a short term short.
vdubus
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top conformation
vdubus
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Quick update first target 101.417
vdubus
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it's just the standard ARC but with the coloured infill set as transparent
ThlunTan
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I see. :) I saw you used the arc quite often and it is quite accurate. Any tips to draw the arc? Like follow the trend.. or follow the cyclic ?
ThlunTan
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Sorry to ask. What is the indicator to draw up the arc ? Could you teach me?
I Only use the arc as a guide. Each time you get a lower low/ higher high etc Arc's to me are how the price moves. Zoom out a little on your charts and you'll see them form all over the place. It comes under 'Rounded Bottoms & Tops' but these are formed over time. You'll notice that the price always returns back to the level where the arc originally started but with in the trends. Works on all time frames especially on the 1 min, . Tip - if you see an arc forming at major support @Resistance levels it's an indication of it rebounding.