finitemonk

USDJPY - TESTING 1, 2 ... 3

FX:USDJPY   U.S. Dollar/Japanese Yen
66 0 1
Just a quickie (apologies for all the lines, most are irrelevant to this) - in reference to my earlier chart today - TILTS - I might have my required further upward tilt.
This is an experiment to see if I can achieve something I've never managed to do: predict on the hints the formation of new fork & required drop. These hints always appear beforehand, the blue line is parallel. I've joined 1-3 as the demarcation of the median line , and I'm reasonably happy with the current down trend nesting into its Fib behaviour. Need the price to move downward,the lower edge of the previous fork to break, (the lower bright red line), and a rapid bounce to occur at 98.2 (point C) back to the ML, probably crossing it to rejoin the Centre Median Line @ approx. 100.2

This is pushing the boat out a bit, and can be inadvisable to trade this yet, as Fib retracements often have marked confluence.

In a few hours we might get further confirmation as the ML of the new fork acts as resistance, trapping the price at it's approx current level, then pushing it down. Note the Dollar is being uncomfortably see-sawed between dropping crude & rising precious metals.

We shall see. :)
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