Short
USD/JPY CONFLUENCE
How much more confluence do you need.
1. Price looks due for a retracement, means nothing but it looks that way.
2. Rejection wicks finding resistance at a FRESH supply zone.
3. Weak price action seeing exhaustion after a big push phase with Rejection wicks and Doji on the four hour.
4. Bearish momentum divergence with a bearish macdoodle cross.
5. Price looking due to revert back to the 50/200 Period moving asses (White,Purple)
6. Fingermybumnacci 50/61.8 lining up with our TP target and most importantly with Market structure (black lines)
7. TP target also lining up with a reversion back to previous daily support level. (Blue Lines)
8. Bollinger bands with a standard dev of 3, Just got a touch on the top of channel (Quite rare)
It all means nothing on its own, Price action is ALWAYS number one but I prefer to gather as much evidence as I can to support what PRICE is telling me. Trading is just about making an educated guess based on the information at hand.
"Price is where? In reference to what?"
-Me, The real GMBP
1. Price looks due for a retracement, means nothing but it looks that way.
2. Rejection wicks finding resistance at a FRESH supply zone.
3. Weak price action seeing exhaustion after a big push phase with Rejection wicks and Doji on the four hour.
4. Bearish momentum divergence with a bearish macdoodle cross.
5. Price looking due to revert back to the 50/200 Period moving asses (White,Purple)
6. Fingermybumnacci 50/61.8 lining up with our TP target and most importantly with Market structure (black lines)
7. TP target also lining up with a reversion back to previous daily support level. (Blue Lines)
8. Bollinger bands with a standard dev of 3, Just got a touch on the top of channel (Quite rare)
It all means nothing on its own, Price action is ALWAYS number one but I prefer to gather as much evidence as I can to support what PRICE is telling me. Trading is just about making an educated guess based on the information at hand.
"Price is where? In reference to what?"
-Me, The real GMBP
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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.