So we are looking at EURJPY to test back to the tip of the resistance at 135.466 before selling. While we wait we should watch for the break of 135.086 support level. If price breaks that support level before reaching to our resistance POI at 135.466 then we will start shorting from there
Rising wedge simply means the buyers are finding it difficult to push price higher so they move up with low momentum until the sellers step in and push price down with high bearish momentum. But in usdzar present price structure it's different. Even if there is a rising wedge formation don't expect price to fall because the buyers and sellers momentum during the...
Rising wedge simply means the buyers are finding it difficult to push price higher so they move up with low momentum until the sellers step in and push price down with high bearish momentum. But in usdzar present price structure it's different. Even if there is a rising wedge formation don't expect price to fall because the buyers and sellers momentum during the...
I have studied AUDJPY using 3years backtest data and I can categorically tell you that buyers will be trapped at AUDJPY current price (74.61). Personally, I would sell at this price with SL at 75.109 and TP at 73.881 or place a sell stop at 74.198 with TP at 73.881. The Bears are warming up dangerously, buyers be warned!
