-Since Brexit the UJ market has been in a 650 pip range between the large quarter point of 100.000 and the halfway point at 105.000(quarters theory). So logically i would expect at least a 600 pip breakout in whichever direction the market goes.
- UJ has respected the bullish trend line drawn starting from 2012 and after the third touch since brexit has created a change in market structure moving from bearish to bullish. taking into consideration the bullish correction is starting after bouncing on a bullish trend line this will likely turn into a big move.
- Short term UJ has failed to complete the halfway price point of 105.00 which coincided with a shorter term resistance trend line. price really needs a good pullback after the past weeks bullish move. it has also broken a 4h trendline confirming a bearish correction.
-price should return bullish around price area 102.500 and make its bullish breakout by the end of this year or beginning of next.
- UJ has respected the bullish trend line drawn starting from 2012 and after the third touch since brexit has created a change in market structure moving from bearish to bullish. taking into consideration the bullish correction is starting after bouncing on a bullish trend line this will likely turn into a big move.
- Short term UJ has failed to complete the halfway price point of 105.00 which coincided with a shorter term resistance trend line. price really needs a good pullback after the past weeks bullish move. it has also broken a 4h trendline confirming a bearish correction.
-price should return bullish around price area 102.500 and make its bullish breakout by the end of this year or beginning of next.
Comment:
Did not expect such a huge gap but so far spot on. missed out on my optimal long position because i expected a double bottom before a takeoff like that.