Here I've combined CLONING with TREND LINES.The current candle pattern,which is the first thing I look at, is clearly in a bullish trend. A pull back to one of the red support lines is possible. IF USDJPY can rise and close above reference channel and clear the nearby trend line, the next near term target is the trend line just above. The DPO (13)monthly above / below mid-point works quite well as a trend change indicator, with some instruments you might have to play around with look back periods.On weekly and daily I usually set it at 21.
Comments
Robert.N
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Big up :) For nmike and 4 uj :)
nmike
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....above KEY resistance
nmike
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>>>> interesting support / resistance & candle action for the month of June.We had a bearish CLONE break during June but after hitting a trend line support price found itself back inside green CLONE and above a trend line resistance. Ready to test 102.5 resistance.
nmike
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>>>>>trend line resistance HIT
nmike
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update.....well above reference channel & above resistance trend line
nmike
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.....this analysis still valid,just have to extend existing trend lines & S / R levels