- Fibonacci Retracement at 50% - Price respect to this level and form nice price action. - RSI bounce back from level of 30 (over sell). - Elliot waves harmony showing end of wave 4 and resume the 5th up impulse wave. - Bullish Divergence. - Price get support right above the green cloud of Ichimoku. -Trend is already up & strong and all the above making more confluence.
It is true that on weekly chart we can see some strong evidences of weakness but still bull battle is not over and some Aces are up out of the sleeves herein :)
Comments
smartsociety
⋅
Okay , I do not mind close my longs and the profit I gained . General perspective says sharp drop is coming.
I still think this pair is gonna do something abnormal this time by going up and up and up to broke all bears
But Dollar Index does not give me that confidence to trust dollar anymore , see weekly chart and you know.
Recluse82
⋅
yes true, but looking in other aspect yen will strengthen big time, not just usdjpy will fall hard the others too
smartsociety
⋅
Right but do not count so much on divergence , I lost a lot on GBPUSD when it was going up and showing bearish divergence then I short ..price proceed up and up.
All in all I know it is so big possibility the price might finally drop down cause it is at so important & historical line playing support / resistance ....
But what I think is it is not gonna drop before trying 110 again and I like this 4000 pips very very much (my platform uses 5 digits) like tradingview.
Recluse82
⋅
and on monthly chart bearish divergence, this pair is gonna fall like a rocket maybe one more leg up than ciao ciao
I still think this pair is gonna do something abnormal this time by going up and up and up to broke all bears
But Dollar Index does not give me that confidence to trust dollar anymore , see weekly chart and you know.