UJ Game Plan
(UJ Trade Setup): Good morning. UJ has rebounded since it's fall towards the weekly support of 108 last week, now at a critical price just under 110. We will use this to our advantage, by preparing to enter short and long depending the price action in the next 12 hours. The strategy we've developed here at Alchemy does not care for indicators. Our indicators are the candles themselves. Thus, by identifying specific candles on the daily, we can ascertain a few things. Clearly, following Fridays bullish engulfing candle (which covered 3 previous daily open prices) we are now at a very important area. If we manage to break above 110, UJ will remain bullish towards the targets we have identified at the 1.272 & 1.618 fibonacci extension.
Down to the 4hr, we are watching for a rejection or a break. ANY break above 110 on the 1hr/2hr timeframe, followed by a candle close, means UJ will be going higher. A buy-signal will be published to our VIP members in our telegram.
Down to the 4hr, we are watching for a rejection or a break. ANY break above 110 on the 1hr/2hr timeframe, followed by a candle close, means UJ will be going higher. A buy-signal will be published to our VIP members in our telegram.
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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.