Price broke above trend line
Price then retraced to trend line and consolidated for a while,and not closing below the trend line
We then saw a momentum shit,in support of the bulls.
Main trend is downtrend,price is currently pulling back,to previous resistance,price was consolidating at 1.37200-1.37800 structure level,it just broke that level,am patiently waiting for a buy signals at 1.37800-1.37900
USDJPY has been in a strong bullish move.it recently slowed down while approaching a major resistance level,price then formed and broke below a rising wedge,will be looking for sell signals at 110.500-111.500
On my previous post regarding GBPAUD,I PREDICTED that price must retrace to one of the red resistance level that I pointed out, eventually it did.
Price reacted to the first Resistance level,with a wick rejection, signaling that Bears were entering the market.
Suggestions are welcome
PRICE WAS IN A HIGH BULLISH MOMENTUM
WHEN IT APPROACHED THE WEEKLY TREND LINE ,IT REJECTED AND FORMED A DOJI CANDLE STICK FOLLOWED BY A LONG RED CANDLE STICK,SIGNALING A CHANGE IN MOMENTUM.
Your Suggestions Are Welcomed
Gold momentum slowed down as it was approaching a resistance level.
Price formed a falling wedge, signaling a change in trend
We waiting for price to go back down to the 1680 level.
Aggressive Entry:1680 buy or wait for price to show momentum shift after it hits the 1680 level
Suggestion are welcomed
