Short

EUR/JPY

Od PioTheFx

Zaktualizowano

Komentarz

The marked is the region that I shall enter the market if price comes to it.

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Price seems to have failed to adhare to the channel with the last swing high failing to reach the channel support.

Instead, a new channel seems to have been formed, and I think x might be a probable course of direction. This the best region to press my sell is if price goes toward the channel resistance.

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If price fails to break the red highlighted level, I will expect it to act as a double bottom and operate as per my prediction toward X. although, further status to be watched out.

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Price seems to have failed to break the red highlighted and thus as retracted toward resistance. Although, it is currently at the resistance of the blue bounded channel which it has recently failed to reach its support.

Also, it is just before the Moving average making the level stronger.
Weather it fails to breach this zone or it goes toward the resistance of the new channel, a bearish move seems to be at bay.

Komentarz

Possible pair moves

Komentarz

Price did not enter the channel, but instead it made a strong bearish move within the blue channel and letter breached the channel's support toward the Fib level.

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As seen, price is back into the highlighted channel and has retraced toward its resistance level for a possible reversal.

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On a Daily chart, price is currently within the channel of which the highlighted trend channel (now hidden) were a part.

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There is a small bullish channel, of which price is at it's support which corresponds to the support of a very large Weekly bullish channel with a possibility of breaking as seen bellow.

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Price failed to break the the purple channel support (which corresponded to the long term channel support as indicated above). Is now headed to retest the red bearish trend line.

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This level is also corresponding to a psychological level 127.00. Thus how price reacts to it shall tell of the pending direction.

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I have removed some drawings and remained with the visible channel in the Daily t.f chart. I have also adjusted to were I expect the market might move toward.

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Currently the market has paused just before the Moving average.

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In a 4 Hr t.f price is in a purple channel and has now paused at about the midway

PioTheFx

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