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While the price has been pushing hard at R, the overall trend looks weakened to me. Posting for later review.
Also, late Jan seems to be a time for USDJPY to move. We'll see
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I find the overall thrust, momentum and pattern here to be interesting and bullish. How deep will the retracement go is my question
We're sitting in liquidity and appear to be trying to move higher fast. I think the Eurozone data coming might push this higher. Now just to stay clear of the wicks and not get knocked out of position ...
"Liquidity gaps" have been proving themselves over and over. Everytime there is a decent sized movement, price always seems to "fill in" or trade through those spots again. I've highlighted two spots in light yellow. (A third was a maybe).
It looks like price is likely going to trade in to these "gaps" , I've highlighted. These are concepts learned from ICT....
The EUR vs JPY is showing hourly divergence on an overall downtrend. Also, I don't normally trade trendlines but have been experimenting with them lately. Some swear by them, others hate them. I have no opinion yet. Do you?
Lets see what happens.
What do you think?
With NFP tomorrow, I am not entering now but will after the reaction. If there is much of one.
I see this pair falling further. Weekly signals a short. Multi wick rejections and heavy sell pressure.
Note that like OANDA:EURUSD these Dollar pairs and crosses are heavily manipulated, so they are harder to trade, imo.
Thoughts? Share below