Hey guys, during weekends i do usually take a look at the bigger timeframes, such as weekly and monthly charts. This time i thought i'd share my view on USDJPY 0.17% . As you can see it represents a classical example of impulse-consolidation pattern(flag,triangle, wedge )-impulse(my prediction) and it's a pattern that repeats itself over and over again in all timeframes. I've written down the reasons that make me think we could expect another upward rally on this market. However, for any questions, feel free to comment below. I'd like to know what you think about! Have a great weekend, see you in the next chart!
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The break above TL is happening. But i'm waiting to see how today's candle will close.
I had seen the exact same thing on the daily chart, just waiting for a breakout of the trendline! Its good to know someone else has seen what I have seen!
@Roker1, yep thanx will be keeping an eye on it ,,, good job
Jkmartin
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I've been watching the same potential break of upper trend line. I'll watch also for another signal of weakness to the bottom line but have to agree with bullish move up. If this breaks, will you trade a retest after break, or will you place a buy order above the last high/trend line?
Cheers Roker1
Roker1
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Hey @Jkmartin, that would be valid as well. I usually wait for pullbacks in order to get better entries, i don't like buy stop orders.