Hi Dears
If you look carefully at the chart of the USD/JPY, you can see that we have to continue our bearish momentum until to reach the base of the pole. But why?
First of all, we had an SR line at around 131.764 that the price Engulfed later and made an FTR zone, and also the price pulled back to it later so we can say that we have a flag limit (FL) zone.
This FL zone was Engulfed later on 5 April and when this happened, we expect the price to reach the base of the pole.
Sincerely
Hosein Poursaei
If you look carefully at the chart of the USD/JPY, you can see that we have to continue our bearish momentum until to reach the base of the pole. But why?
First of all, we had an SR line at around 131.764 that the price Engulfed later and made an FTR zone, and also the price pulled back to it later so we can say that we have a flag limit (FL) zone.
This FL zone was Engulfed later on 5 April and when this happened, we expect the price to reach the base of the pole.
Sincerely
Hosein Poursaei