Expect reaction in trendline. JPY getting weak
Testing strong monthly supply, last monthly candle closed as a Doji (reversal candle) (Check updated idea)
On the weekly - broke a major high, and now broke back below (run on massive liquidity) - Also created lot of imbalance (yellow area) with a tiny Orderblock inside which also could be respected IF the market were to come all the way down here. - Testing an Orderblock On the Daily - Created an M pattern with a higher...
This is a Daily Timeframe perspective. The Market has just tested a strong Bearish Ordeblockwhich is supposed to hold the market down. We also made a deceleration, going from a bullish market which is now a bearish market. The black lines that are drawn on the chart, is Sell Side Liquidity which are attractive targets where the majority of Orders lay in the...
Breaks out of trendline. BUY
Zoom in and you'll see that it's also retesting the neckline of the double top to the downside. Confirmations for SHORT: - Bearish Channel broke - M formation on top - Retest of previous support, now turned resistance