Disliked{quote} EUR JPY Analysis 1 of 4 DAILY TF {image} Triple bottom. I'm not looking for short position. Too risky to short now, it's like chasing the price. This is the first critical step to understanding the market structure like a pro is plotting key Support and Resistance (S&R) on the chart. The reason is straightforward: the price will often respect, stop, or reverse at these S&R zones. This tends to happen especially when: There is confluence of levels at or near a price zone. The price is approaching a respected and recent S&R level for the first...Ignored
EUR JPY Analysis 2 of 4
H4 TF
To the lowest point of Triple bottom is around 27 pips. Not worth to chase the price for the small gain.
We need to be aware of the major price zones to avoid trading into keys levels and perhaps even be prepared to trade away from those levels (i.e., taking a long at support with Triple Bottom).
Price is at round psychological levels, 121.000.
I come from the future.