After August's low volatility and the Dax stuck in a range, the 10800 level will be make or break. A push through it on the daily close could get us to 11400, a strong rejection could lead to a good short oportunity on a double top.
USDJPY is pointing upwards in every regard (technicals on different time frames, overall market situation) now an entry must be found. A retrace backwards would be preferrable. If we get or not, patience is king! If its gone its gone without losing any of your balance.
With the hard rejection at the confluence point it remains to be seen if it can make another push up. If so entry points would be the break of the recent high or a etest of the trendlines, depending on the PA.
Just a reminder that we just started our way down and 1,10 might be hit within the next days/weeks. Proffed to be an important level in the past, so will be worth watching PA closeley once we are there
looking for the reaction at the daily support as we are in an area of weekly demand. rejection could trigger a long, break through would get me trying to find a short entry. beware of the fakeout!!
After entering long with a small "probe" last week I am waiting for the red S/R zone which is also the current high to break and entering a second long position.
with everything pointing to the short side but 2 trendlines ahead, waiting for those to break and get an entry or a rejection and an entry on the 20ma retest. Anyway careful! and patient! on this one
Textbook H&S in the process here. Right at the big Brexit bar which is disturbing, but on the other han could help the pattern as it will take years to take place and everything could go back to "default".
