Looks like this consolidation is coming to an end for good. Its safe to say the market is most likely to drop since it hasn't been any higher ever since December last year. Based on fibs it looks like we are in a sweet position to catch 40-50 PIPS.
Back tested our major support and resistance zones in the market and it looks like our down trend will end soon. Possibly near this friendly support area. If so, based on fibs theory we are looking at a pretty sweet buy leaving us with 100-120 PIPS of profit. Good luck!
Definately ov erbought at this point. Price has been rejected. Take profit 1 was drawn from the golden ratio of the previous rise and i believe its going to fall back to it. As of the other take profit stops I believe it will be a aprt of a formation of a double top... a big swing. Thoughts?
Hey everybody, I know the Trend is your friend and USDJPY is been pushing up for a while but with this technichal analysis, I see a potential bear market pretty soon.. still debating my entry point. Who else agrees? Would someone like to add something? im all ears
Hello all, for all my swing traders out there I think GBPJPY is going into a bearish trend soon and I came up with this technical analysis. I'd love to hear some opinions on this.
Should I extend the SL on this?
Hey everyone, I just wanted to share what i can see. I've been trading for about 5-7 Months now and i don't consider myself an expert but any comments on this would be very much appreciated it. Feel free to share your opinion on this. Thanks!