hello traders. The usdjpy resistance line may be broken. target sup dem
Supply and demand zones will cause the price to bounce.
after a good run up from AUD strength after RBA became less dovish in their latest RBA minutes, there seem to be some weakness in the following pair once again Price seem to be stuck in a range between a demand and supply zone. A break of either of these zone is required in order to play potential longs or shorts from the origin. my bias is however, a short on...
supply zone formed on M15 as price drops below previous swing low. short opportunity with 1.5:1 RR
AUDUSD fell into a small consolidation zone that may be a small demand. A short term long, target the previous swing low assuming support turn resistance concept. 1:1 RR
Price made a sudden down move after a period of consolidation. Potential sellers there. Wait for retracement into the zone for a short position.
Classical Supply Zone on a Drop-Base-Drop pattern (continuation pattern) TP near ZigZag Wave line in Blue
A potential supply zone on the H1. However, this could be a weak supply zone. May enter with a smaller position. Edit: moved to breakeven
Having reacted to a previous turn/supply level indicated by the red rectangle, prices fell hard from the area last friday. There might be an opportunity for another short in that area to take advantage of heavy supply as prices climb back into the zone.
notice that we are NOT using candlesticks, but rather Heiken Ashi. Heiken Ashi is very similar to the regular japanese candlesticks, but it fills in the gabs that are missing with the movement. ie if it was a bearish gap, there will be a bearish candlestick. This makes it MUCH easier to visually look at charts, as well as predict reversal candlestick patterns...
As i have labeled in the chart, AAPL has broken out of its triangle formation and is pushing higher to the next SupDem level. It's important to note that this is a MINOR supdem level and that it has already been tested once already on 2013-12-05, so the chance of it bouncing off that zone AFTER breaking out of a triangle pattern is very slim. I am predicting...