After several attempts of failing, USDJPY finally broke out of the H4 Timeframe Trendline, could this be a true Change of Character or the market is preparing for an unhealthy consolidation between the red lines? Or this was just a false bias, the market does not have enough volume on the Bulls side?
Original Chart This is Based Off 2018 update Original Trade Strategy Around This Chart Everything should be self explanatory in the chart. Of course - this will work until it doesn't, but since the 1990, the HSI index hitting its upper resistance line has nailed every major global market top within a very short timeframe. You can see how perfect...
The index has broken above the multi month descending channel that started on April's peak with a clear cross over the Lower High trend line (dashed line) on very healthy bullish 1D price action (RSI = 66.138, MACD = 47.598, Highs/Lows = 433.2348). Since both 1W and 1M turned neutral (RSI = 54.126 and 51.251 respectively) we are looking at previous candle...
The Seoul index is approaching the multi year Higher Low Support Zone on 1M, which has just turned bearish (RSI = 41.949, MACD = -21.310, Highs/Lows = -101.3235). This creates the optimal conditions for a long term quarterly buy opportunity. Based on previous similar candle patterns, the rebound is expected to go as high as +17.45%. Our target for the next three...