Description in chart ... looking to participate in the underlying up trend
This is a post focus in reading the price action in terms of how is the dynamic of the buyers and sellers, and how an appropriate reading of the overall context (in this case the up trend channel) in conjuction with price signals like fail break outs and price structure (In this case Higher Lows) can provide an idea of potential trading areas where the trader can...
For the next week, may be expecting further weakness in the UJ, ... so my bias for the next week is to the bear side,therefore I will be looking to short opportunities in lower time frames .... however as a manner of observation look the behavior of the price around the extreme of the trend line (Last red circle), so good opportunities present around the...
For now the price fits its daily action within an uptrend channel, however, the prices are around Upper Limit, fact that locates the market into an "oversold" condition. So based in this context I would prefer to wait in order to buy "cheaper" and with that I mean to buy around the Lower limit when a retracement is going on
Look for a change in behavior pattern around the last swing low area (2500)
Look for a change in behavior pattern around the 1.3420 area in order to play possible long entries, you could look for set ups in Lower Time frames
If the price is unable to keep pushing higher, then an entry to the short side could be triggered .. so for the next week look for change in behavior patterns around the 0.7470 area
Looking to participate in the dowtrend channel
Look for trading opportunities to enter long, expecting the break out of April´s High, maybe you could search for flag patterns or whatever you use in order to participate in the underlying uptrend channel
If the price is unable to keep making Lower lows, (taking as reference the 113.150 area) AND starts to form Higher highs then an entry to enter long could be triggered in order to participate in the underlying uptrend ...
Look for a retrecement in order to participate in the underlying down trend
Looking to participate in the underlying downtrend
If the price is unable to make LL then look for long entries if the price starts to show some demand entering into the market (HH´s and HL´s)