as seen in the chart, a rejection of the mean is a good opportunity to get into a position before the breakout happens ,
as seen in chart *absorbtion seen with a series of higher lows / highs or a clustering of closes or price refusing to reject level of former resistance usually is a sign of remaining supply at a certain level getting consumed by buyers ,
Usd/Jpy trading plans at resistance , either play a breakout and wait for the pullback to go long or play a rejection of resistance and sell the retracement going for a reversal plan the trade and trade the plan
we currently trade at a fomer resistance level and near the actual demandline there is only two things that can happen here , either a break of that level or a reversal both scenarios are drawn in the charts in form of schematics be prepared , plan the trade and trade the plan
Context: the upside momentum loses its steam as we break further demandlines a potential downchannel could be drawn . price currently heads back to its broken resistance @120.400 any bullish reaction at this level can be judged as strenght. signs of strenght: broken resistance signs of weakness: broken demandlines
Context: price found support at the 50% level of the previous rallie which is a sign of strenght, we even took out the 50% level of the correction, this pair is still strong. we currently found a minor resistance level @5700ish any break of it to the upside and we will head back to the current highs @5800ish signs of strenght: rejection at 50%...
Context: After several signs of indecision , price finnaly is somewhat in balance right now , between support @10700 and resistance beeing @11600 , with a lil upside bias in form of a potential upchannel signs of strenght: price found support signs of weakness price found resistance
Context: the down channel has been broken after price found support @7876 , will this initiate a further rallie ? , well first we need to take out the current resistance @79400ish any rejecion at this level and we might test current support @7876 again , and we price may be a lil rangebound. signs of strenght: support broken downchannel signs of weakness:...
Context: the downchannel is still in play , price found support @7876 , any break of the channel followed by a higher low and we can speak of returning strenght, if the channel holds we will test @7800 signs of strenght: price found support signs of weakness down channel broken middlepoint
Context: the broken support turned resistance , but there is no clear path resulting in this action and therfore price finds itselff yet again in an inedecision mode , and its how that indecision resolves itself in order to speak of either continued weakness (breakdown) or returning strenght (breakout) signs of strenght: uptrend signs of weakness: strong...
Context: the current reaction @54500 initiated an upgrind thru a supplyline with a series of higher lows and highs , however its not a strong upmove per se , any rejection of @56300 followed by a break of demandline should be considered weak, OTOH such tight grinds especially after a selloff are filled with price and any breakout to the upside will be...
Context: the current rallie loses a little steam due to some minor pauses , nevertheless we havent seen any signs of a reversal as of yet , the actual rallie is still intact , we a trade at a former minor resistance @121.00 if this level holds support we will conrinoue higher to test @121.400 respectively @121.900 , should we break that level to the downside and...
Context: this pair finally broke out thru the upside from its range, this happened on an increase in momentum so this action should be judged of strong nature any further higher higsh and lows , will bring us further to the high of @121.9 any pullback to test the broken resistance may reveal an entry to the longside signs of strenght: broken resistance rallie...
Context: the current downmove still should be judged as of corrective nature within an uptrend , even thou we have an increased momentum to the downside, we respected the 50% retrace level of the current rallie aswell as the demandline from the overall uptrend , a break of the 50% level willl mostlikely cause a further down side target to the 50% mark of the...
Context: down channel still intact and we have broken a demandline and the middlpoint @79400 which should be considered weak , there are two support levels where we might see a bullish reaction that be @7875 and @7800 , as long as price stays within its channel it should be considered weak signs of strenght: None signs of weakness: rejection of mean down...
Context: the down move from resistance happenend on rather strong selling pressure , price made minor pauses instead of minor corrections , however currently price found support @11300 in the form of indecision as seen on the orange wedge , and however that indecision resolves itself will give us a further insight on th future course of the market for the time...
Context: the rejection of the resistance , caused a increasing of the selling pressure which brought us thru the 50% retracement level of the current upswing this are signs of weakness and any further leg down confirms the weakness any signs of strenght returning should be seen at any former resistance / support/ and mean level signs of strenght: uptrend ...