Right now the market started to make higher lows and lower lows on the 4H time frame creating a Descending channel. We are waiting for the price to reject the major support level 1.2700. The support level 1.2700 is lining up with 0.618 FIB Retracement and with 200 SMA on daily and 50 EMA on weekly. Before taking the trade we need to wait for the confirmation break...
Hi guys, USD/JPY has been in a downtrend as you can see the blue lines from the weekly time frame. Now the market reached the top of the weekly channel and monthly major resistance. The price hit this level twice before in the recent times and each time made a lower low. Also on daily time frame there is a wide bearish divergence and on 4 H a rising wedge has...
This pair is was in an uptrend in the last three months. On the monthly we have this bullish candle with a small wick rejection candle at monthly resistance level 2.05378 and also in recent time on monthly the price just rejected the 50 EMA and the 14 EMA go very close to the 50 EMA. That's why this trade is gonna be just a short term one because the monthly price...
On the monthly the price approached 1.08500 major support level with a doji candle showing signs of weakness. On the weekly time frame a triple bottom occurred and on the daily time frame the invers head and shoulder with a slanted neck line which is extra bearish. Daily trend line has been broken and now pulled back to the minor support level 1.09655 and also 14...
This morning the Daily Rising Wedge Was Broken, a double top was form on the Daily chart and also Head and Shoulders on the 4 H. Very wide bearish RSI Divergence and 50 Ema was broken. Looking for a good pull back to enter. Let me know your toughs on this. Keep it profitable!
