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Currency Pair: USD/JPY
Date: May 03, 2019
This is an application of the few rules I have learned about trading forex.
- Support and Resistance
- Pattern Trading
- Price Action
Some thought on this pair:
The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things.
Whether you believe in cycles or not.
Whether you believe in manipulation or not..
Whether you believe in Santa Claus or not.....
OPEC News and Events that moved oil, and the trajectories that followed.
More recent channel trajectories.
AUDCAD is having some trouble with the bears. Nothing to worry about because being in a trend can give some very profitable opportunities.
Like this one if it continues to move downward. We all don't know if it's gonna happen but we can get a high probability out of it.
Having a flag pattern or a pendant formation gives you enough information that there's a...