USDJPY never fell past 107.210, and has bounced twice off the same gradient, im curious to see whats going to happen if the resistances uphold and drive the price down to the green triangle. if the price enters the green triangle but never breaks through the green, it could potentially stop going down. that would be an ideal entry spot if the pattern upholds.
Thoughts?
purely speculation, if it started to break through the resistances im going to re assess the idea; but I found it interesting that there might be some new patterns to play on.
over all i wouldn't be surprised if it found a support line and started to retest some previous resistances mapped out e.g. the red, orange, and purple line could be seen as TP.
Thoughts?
purely speculation, if it started to break through the resistances im going to re assess the idea; but I found it interesting that there might be some new patterns to play on.
over all i wouldn't be surprised if it found a support line and started to retest some previous resistances mapped out e.g. the red, orange, and purple line could be seen as TP.
Comment:
the idea only works if it doesnt break through the underlying green support, then i predict that it will break through the mapped out red. organge and pick resistance mapped out. up up up if the green line becomes a support.