as we can see if price can reach to the top of the channel and complete the ABCD pattern, it will touch the midline of pitchfork too, so we have a very strong resistance there and we can set our short pending orders there.
Hi All, The upper median parallel line got hit and we have bearish divergence, wait for confirmation in price action as a break would mean a long opportunity on the test of newly found support. I recommend using the 1h TF to confirm for an entry(Double top). goodluck!
I don't mind constructive criticism.
Looking at a potential trend continuation around the 111.000 area. Daily chart indicates we are bearish with downsides towards 106.000 area. This indicates we have room to hop on the downtrend we are currently in. Recently the 111.000 area has held strong support on 3 occasions. There is a good probability it could hold as resistance if price gets there again....
Possible channel continuation to test trendline. Trade downward break of channel (if triggered) for trend continuation.
in 4H USDJPY Will rise to 114.600 and this will be our tp So its long HOPE FOR BEST :)
AWSOME exactly in my idea VERY GOOD FOR NOW i think it will be in short to 110 after will go long huge antil 117