Packing everything into a 60m chart here and hope it remains clear. Updated channel from yesterday . . . always a little ambiguous as to which H&L to use but this is a "road map" and not a bible. Today's 5 day AvDaRa is approximately 160 points from the current H&L and plotted accordingly. PRICE is taking a breather at the 200SMA as I write (green) and still needs to break the upper channel convincingly to inspire the BULLS. 100SMA (blue) just a little negative on these charts presently on the curve downward but it's the 10/20EMAs to watch out for (black/red).
I have a make or break point down below bang on 112 with the all important 38% FIB and SUPPORT just hanging below . . . these markers are still valid until invalidated.
Out for most of the day today but hope to update later.
NB: My arrow lines are an indication of direction and not specific target/time points.
Thanks for your great analysis mate!
Here is my view on USD/JPY.
It is based mostly on Market profile (volume)
If you are interested there are more intraday and swing trading levels in my profile page. You are very welcome there!
Dale
Cool . . . looks good . . . Market profiling can help and sometimes I'll use a "volume at price" script to confirm balance/imbalance points but it's pretty well second nature to me to see these levels. I am still erring on the downside for the moment until a break of the top channel. I've attached my 30m chart with today's 5 Day AvDaRa at just shy of 150 points +/-. PRICE needs to break out of the two centre levels first (H&L of the day) to give any kind of signal and the topside is constrained by channel, range and it's currently below the 100SMA so is still a counter trend trade BUY on the Mid term. 10/20 EMAs still negative as I write but the US session might wake things up. GL to you and thanks for your comment . . . always welcome :)
Here is my view on USD/JPY.
It is based mostly on Market profile (volume)
If you are interested there are more intraday and swing trading levels in my profile page. You are very welcome there!
Dale