Two scenarios for friday FX:USDJPY Trade plan: 1. Wait for the event and the initial move. The move will break one of the SR levels 2. Enter on the pullback to the SR level
What a week to short US100. Another opportunity to short today.
After the last sharp downside move consolidating sideways move is expected. The pivot point is going to be 23025 where strong selling will continue.
Yesterday Fed Chair Powel testimony showed rates will be increased. So stocks are going to get cheaper. Because of the sell-off yesterday, the sellers are exhausted. We need to wait a pullback to the last buyers who are willing to sell to get themselves to break-even. Some long-lasting rotation may take place.
Added Attack level 0.5. It confluences with 0.618 fib of the current impulse wave and also it is the half-month old level of support.
Head & Shoulders at strong resistance. Major news catalyst, so expect high volatility.
Cooling down should be expected after Friday's strong movement. A good level to attack is 12347 because it is the nearest biggest supply zone. If this level is not reached at the beginning of Monday or at the London open, then 12245 level should be considered a second chance to enter. US market open will take 12100 with some sideways move. After that 12465 should...