This will be the first of many markups...
I'm looking at EURJPY 0.67% on the 4hr...
I see a clear downtrend with 3 touches of the trend line ...
Price retraced up to the 71% level perfectly and closed the week on a bearish candle... (Not engulfing but I'm convinced she's running out of steam)
I see price dropping to the 61% region before double topping and retesting the 71%...
I then see price moving swiftly to the downside...
THAT IS PLAN A.
---------------------
PLAN B is the complete opposite...
Break of the trendline and a push up to the 78% region before dropping again to retest the 71%...
Then price will make another push higher...
Hope that made sense...
Any questions about anything hit me up!
I'm looking at EURJPY 0.67% on the 4hr...
I see a clear downtrend with 3 touches of the trend line ...
Price retraced up to the 71% level perfectly and closed the week on a bearish candle... (Not engulfing but I'm convinced she's running out of steam)
I see price dropping to the 61% region before double topping and retesting the 71%...
I then see price moving swiftly to the downside...
THAT IS PLAN A.
---------------------
PLAN B is the complete opposite...
Break of the trendline and a push up to the 78% region before dropping again to retest the 71%...
Then price will make another push higher...
Hope that made sense...
Any questions about anything hit me up!
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.
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.