on this chart the theres a clean rejection off the fibo level its also a resistance zone with many candle rejections.
In this analysis, H1 shows so many rejections and also a price rejection zone near resistance and also the fib 705 level.
in this analysis the H1 TF seems to be bearish as the price levels are near the 705 fib level. the upper wicks is also an indication of bearish environment, it may range for a while then the breakout will be the most exciting part
Whats up people, The H4 candle shows signs of bullish energy, the 14ema also acts as a support zone for long position and its a fib long as well.
This analysis is based of fibonacci, moving averages and trendlines. Im long right now as theres a 14ema supp, trendline supp and also a fibo long.
THERE WILL BE A BREAKOUT FOR GBPJPY VERY SOON, I AM MAKING THIS CLAIMS BY LOOKING AT THE TRIANGLE, MOVING AVERAGES AND MY FIBOS AS WELL. ALL OF THIS JUST ADDS CONFLUENCE TO MY ANALYSIS BASED OFF THAT IM GOING SHORT ON H4.
USD WILL WEAKEN AGAINST JPY. ITS AT A TRIANGLE RIGHT NOW WITH THE #FIBSDONTLIE FIB LEVEL CONFIRMING A SHORT POSITION AND ALSO THE 27 SMA WHICH ADDS CONFLUENCE, THE TRIANGLE WILL BREAK DOWNWARDS !!
EUR/USD TA EUR/USD will continue to melt judging by the previous candles wicks reminding us that sellers are still in control. Short term trader who like to pick of baby pips with a big lot size will still win though but for swing traders get ready for some drawdown. To add more confluence to this trade, the slopping trendline is one of another levels to test...