We see price failing to break previous high and breaking the trend line up and continues to create new structure. Here price makes consistent LL and LH and trending below the brick wall. Entry is on momentum with 12 pip SL and 36 pip TP. LETS GOOOO!!!!!!!!!
Potential scenarios on the GOLD SPOT. Move to the upside needs a break and retest of the resitance and move to the downside needs a retest of resist zone
Simple price action shows a possible short stint to the upside for the Pound/Yen pair. Price fails to move below support zones inly retesting the most recent one to make a double bottom. I reckon price to rally to the upside to meet previous resistance zone structure. TimeFrames 4hr 1hr and 30 min.
USDJPY could be on a potential buy provided price retraces to broken resistance and pulls back towards the upside. You want your alert to be within the box to indicate price is almost at your level. if price does break the area turned potential support you can now begin looking to sell the market. Set a reasonable stop loss and take profit taking into account RRR rules.
