The usd/jpy pair has started its correctional phase after long and powerful drops (and japanese intervention). Here we have a lot room for correctional rallies, and I smell delicious Santa Rally in all of this.
I don't give it too much importance for the slingshot pattern on higher timeframe but the opportunity is opportunity. It looks like a delicious entry with good RR and a good place for a near term stop. What is your opinion about this numbering?
I smell trap in this sharp, powerful bullrun. The dollar weakness is just temporary and we facing with a tough crypto winter. As much the price going up as much more is the possibility of the fall. Bullish, than bearish.
This juncture looks like a solid base of the bulls. What I see:
- nice divergence at the bottoms (2 - 2, it can be a "slingshot" easily)
- a massive key level for the bulls by the volume profile
- the minor 1 wave's top as critical level for the bulls
Prepare for a massive jump, the bulls will attack these levels.
Not so nice and jolting "pumps" on the chart of wheat. It means that all of these assymetrical, not impulsive price pumps have corrective role. Obvious, because all of these are moving in one nice and clear corrective channel. I'm waiting for the last HH. Bullish, than bearish