EURJPY
it has been doing a range for days now
a range can either choose to be a distribution or an accumulation
it did not reverse at golden levels of fib on the last up movement level
so we are on the probability of a distribution. wait to confirm if it will break out fully going down
once it does that, that means it has finally decided to be on a downtrend and that can be verified if it creates a lower low than the low of the last swing.
2. it might still want to continue a range movement
WAIT FOR CONFIRMATION.
PLEASE FOLLOW :)
DID THIS FOR PEOPLE WHO TRADE IN LOWER TIME FRAME OTHER THAN A DAILY TIME FRAME .
a range can either choose to be a distribution or an accumulation
it did not reverse at golden levels of fib on the last up movement level
so we are on the probability of a distribution. wait to confirm if it will break out fully going down
once it does that, that means it has finally decided to be on a downtrend and that can be verified if it creates a lower low than the low of the last swing.
2. it might still want to continue a range movement
WAIT FOR CONFIRMATION.
PLEASE FOLLOW :)
DID THIS FOR PEOPLE WHO TRADE IN LOWER TIME FRAME OTHER THAN A DAILY TIME FRAME .
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.