TheYangGuizi

Everything went better than expected

FX:USDJPY   U.S. Dollar/Japanese Yen
96 3 3
First trade up = success.

Now at the beginning of the previous leg down. Expecting some consolidation here. A little early to say, but there's prob a little more upside room. Gonna have to see what happens to the momentum though.

Check weekly and you'll see we bounced of a pretty big level.
Nice call on the long. I agree with your view. 103.16 area could prove to be an area of basing for good longs.
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TheYangGuizi coondawg71
Yes, getting some short term bearish momentum/distribution in lower timeframe 5/15.
snapshot

We'll see if it's the beginning of a turn down, or if it will get absorbed by the up move and we'll see some sideways action.

Those levels I drew were based on signals from that supply/demand indicator I stumbled over btw. Sometime's it's just pure magic. Especially combined with s/r and momentum.
Reply
TheYangGuizi coondawg71
Yes, some bearish momentum in the shorter timeframes though.
snapshot

Gonna have to see if it's the beginning of something bigger, or if it will be absorbed by the up move.
Reply
TheYangGuizi coondawg71
Those distribution/accumulation lines are drawn from signals I got by that supply/demand indi I found btw. Sometimes it's just pure magic.
+1 Reply
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