Disclaimer: This is my own trading journal for learning purposes. Some pointers will be appreciated if anyone is interested. Cheers!
Currently it seems like the long bar are stronger in comparison to the short bar, which indicates that it has a stronger upside.
Can enter the market at 0.03248 (0.618 fib), with a stop loss at 0.03222 (0.786 fib).
Profit...
This is my first attempt in currency trading.
The key Technical Analysis tool used is Elliott Wave, supplemented by MACD, Stochastic indicator, Pitchfork and Gan Fann.
Are you curious how I do that?
Andrew
I am at home. Looking to the JPYMYR chart. I have spotted the channel.
This is not a regular channel. This is the 'clash channel'.
Why 'clash channel' is so important to the chart? It is the collision of the demand and supply
between Yen and Ringgit.
Yen has slightly shaken off the momentum as this week. The demand to the Yen has fade bit by bit.
On the other...
If Bank of Japan intervene due to high demand of Yen and many people seems gonna put it as a safebox , think again.
Yen reached the furthest so far and for setup Supply and Demand , it will back to 100 Yen over MYR3.20 for the next year or two.
