the price is being rejected at level 50 of Fibo and being under significant resistance it is predicted that the price will fall to 108,302 with a distance of approximately 109 pips.
I am quite new publishing my ideas.
The USD/JPY currency pair price is creating a symmetrical triangle pattern on the daily timeframe going down even to the lower timeframe. The price has already exploded down after bouncing off the descending trendline forming the triangle, however, it seems as if some buyers are trying too hard to maintain higher prices. There is also an ascending wedge /channel...
Hey again , my new analysis for usd/jpy :
Weekly: The price is below the 200 MA so we look for short bias.
The trend may have reversal with evening star from bullish to bearish.
The price is under resistance.
Daily : The price is above the 200 MA from middle March.
Area of Value : Below daily resistance. Broke the trend line.
This is my first post.
I will keep posting my idea's and track my losses and wins.
Im not using any indicators because I don't believe it will help me.
I put much effort into this chart, but deleted everything after so you can get a really simple view.
This is my first signal, follow my trading journey !
Wins = 0
Loss = 0
Running = 1
could we see a morning star formation formed before the end of the year.
as we can see my 61.8% fib lines up with a nice level of rejection and just above this is my monthly resistance.
on the lower time frames we have already seen father indications that we should sell (1w and 1d time frames.
however the movements towards the end of the year...