FX:USDJPY   U.S. Dollar / Japanese Yen
239 9 11
Price is in swap area - swap area holds and price moves to 110.60 or swap area or we see a fail of the swap area to 107.70 - first challenge in sight

Related Ideas

snapshot
This is the Yen on a 4min tf at NY open - the question is do we have buyers below
Reply
rpd PRO kate25
Hi Kate25, Thanks for your explanation
Reply
snapshot
so as you can see we have created another swap area where the sellers should be turned to buyers when price comes back down - in saying that we are counting on buyers being at this level - there are no guarantees and price very well may fall straight through this level
Reply
snapshot
now at the bottom of that leg we have a repeat process of the very first chart - we have a set up for price to move away from that red supply zone instead we carve above it
Reply
snapshot
now when you look at the swap area keep in mind that each time price has gone to this level it has gone further into it
Reply
snapshot
every leg up or down has built a base and it is the base that needs to hold price - this is a failed base - price falls through
Reply
snapshot
when price fell through the consolidation a engulfing bar formed - there was no more buyers at this level - price falls - this first line becomes resist the top of the engulfer becomes top of resist. So we are going to draw our supply here. We expect price to stay below this however it crosses above - therefore as you look along the chart you can see where we had sellers at that level we now have buyers - a swap area
Reply
Hi rpd it is were the buyers and sellers have switched positions now if you a purist SD these zones will not make sense lets see if I can put it into a chart or set of charts to better explain
Reply
Hi, could you please explain what is swap area?
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out