Good afternoon,
I hope everybody had an amazing week and trading week and grew one percent in all areas. The market was very bearish for the first couple of days and then began its retracement going bullish around early Wednesday morning. Price fell from 133.600 to 130.600 before beginning the retracement to the upside.This week i'm predicting that UJ is still in a bearish market and is only currently in a corrective state. In this snapshot you can see that price has broken the uptrend trend line and is currently potentially moving up in correction. I am predicting that price is going to reject at the gold zone of .618 on my fibonacci continue the downtrend bearish market. I am looking for price to move up to 132.565 area and for price to reject. If price is rejecting and stays that way causing it to close below that zone once the four hour candle closes, I will be looking to take my entry. I am looking for price to drop to my next demand zone at price point 130.560. I believe price will drop lower, however the goal is to make trades that make sense where you'll have a higher chance of hitting TP. I'm open to all feedback and questions, please do not hesitate to comment and interact. If anyone agrees with my analysis or has a similar set up please like, share, and comment.
I hope everybody had an amazing week and trading week and grew one percent in all areas. The market was very bearish for the first couple of days and then began its retracement going bullish around early Wednesday morning. Price fell from 133.600 to 130.600 before beginning the retracement to the upside.This week i'm predicting that UJ is still in a bearish market and is only currently in a corrective state. In this snapshot you can see that price has broken the uptrend trend line and is currently potentially moving up in correction. I am predicting that price is going to reject at the gold zone of .618 on my fibonacci continue the downtrend bearish market. I am looking for price to move up to 132.565 area and for price to reject. If price is rejecting and stays that way causing it to close below that zone once the four hour candle closes, I will be looking to take my entry. I am looking for price to drop to my next demand zone at price point 130.560. I believe price will drop lower, however the goal is to make trades that make sense where you'll have a higher chance of hitting TP. I'm open to all feedback and questions, please do not hesitate to comment and interact. If anyone agrees with my analysis or has a similar set up please like, share, and comment.