Price has formed HH and HL on the weekly and daily timeframes. Price has bounced several times off the 150.500 support level. The daily and 4 hour candles are showing weakness around the support level. Candles bouncing off the support level will meet many confluences - Fibonachi - Whole number - 3rd bounce off trend line and many more - HL formation - Double...
- 111.00 seems to be a strong support level for the pair - Price has bounced off the trend line 3 times - Morning star formed - JPY pairs seems weaker for the week
Morning star formed on the psychological level and strong support
- Waiting for breakout on 4 hr and a confirmation candle on the daily TF
Don't usually take counter trend trades and also there are some big fundamental news tomorrow, and then there is the weekend. Just want to see how my analysis plays out.
- MULTIPLE CONFLUENCES ON THE UPPER TIME FRAMES - DOUBLE TOP - BREAK AND RETEST OF CTL
- price bounced off daily support - 61.8% fib - trend line touch - CTL break - Price bounced off a whole number
- Fib level - Trendline touch - CTL break - Whole number level - Resistance - Price below 20 EMA - Break and retest of resistance - Multi time frame confluence
- break and retest of trend line - trendline touch - double top - spinning top - key whole number - higher time frame and lower time frame confluences
- break and retest - price on monthly support - 61.8 % fib - price in a channel - divergence
Break and retest, 38.2 % fib rejected, Bearish MA crossover, Divergence
FIB 61.8% CTL BROKEN PRICE BELOW 200 EMA HAMMER CANDLESTICK FORMED DIVERGENCE