Monthly, Weekly and Daily TF are all showing a confirmed uptrend. The 4hr is now testing the downtrend anchor. It is expected for the market to break out of this temporary downtrend and continue to the upside. Let see how this trade turns out over the course of the week. Your thoughts and feedback is welcomed.
This is an update to a trade setup that was published on Monday to buy the Pound against the Yen. If you have any question or feedback feel free to let me know.
Monthly TF showing price over extension, and market may now look to Pullback before continuation to the upside. Weekly Timeframe also providing confluence of that the pullback is possible, Daily also showing a Head & Shoulder pattern, where price broke neckline. The break out pullback retest is also evident on the 4hr TF so I'd be looking to short the market down...
Monthly Downtrend, Wkly Downtrend, Daily showing a potential change in market trend. Price has broken downtrend anchor on the daily timeframe and looking to retest that zone. We may see some buyers coming into the market, at least for short term. Let see how this trade plays out during the course of the week. I'd be waiting to see the market break out of 4hr...
Price rejection from Support and Daily 200EMA, I believe there's still a little room for price to fall, before reversals to previous high. Target over the next 4days is 147.00