JeffTan1

JeffTan1

Downtrend

JeffTan1

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JeffTan1

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JeffTan1

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JeffTan1

Will retrace

JeffTan1

Please see comments

JeffTan1

Please see comments on the chart

JeffTan1

The black major pitchfork shows clearly the strong uptrend of this pair since 2012-09-13. It is going through a price correction and unless it breaks the lower MLH, it is till in the uptrend. A break on the lower MLH will indicate a possible change in the trend downwards

JeffTan1

Overall, USDJPY has been trending up since 2012-09-13 as depicted by the major upsloping black pitchfork. on 201506-08, P0 is formed followed by P1, P2, P3 and P4 which shows a clear downtrend as P3 has taken out P1. P4 was formed as a ed in blue which is the confluence of the Lower Parallel of the major pitchfork and the L-MLH of the downsloping mini red...

JeffTan1

Major Pitchfork in black shows trend has been up since 2012-09-12. Pivot P5 has two touches along the Median Line of major pitchfork and on the 0.382 upper median line parallel of the downsloping red mini pitchfork. P5 is the confluence of the major upsloping Median Line and the green 0.382 upper median line parallel of the down red mini-pitchfork There is a...

JeffTan1

Pitchfork shows the market flow is down unless it escapes the upper median line parallel

JeffTan1

ss

JeffTan1

Previously on : 2013.07.26 2013.08.02 Be prepare for swing trading all the way up to target if you can stomach it.

JeffTan1

As analysed few days ago, price has reached the l-mlh as its target. Trade done!