Like me USD?JPY is go down. What do you think?
DislikedWell, I checked my charts and I'm still on the sidelines.
At this level, I'm not comfortable with longs or shorts.
The last pullback was only the 38.2% FIB from the move up on 02/12 (low 89.00) and the high of (94.45). The range from the 0.0-38.2 is about 170 pips. So 170 pips higher from the previous high of 94.45 = 96.15
This coincides as a heavy horizontal resistance line.
So - I will be looking for shorts if price gets near 96.00Ignored
DislikedMy guess is to get in it at the peak of the trend, which is 96.91. If it climbs further, then scale in for a better price ...Ignored
DislikedHey friend, I took the week off. Well, not really cause I just shorted lol.
Anywho, I think a pullback is needed, not consolidation, it needs to start making a trend, higher lows you know, but all we have is spike, consolidation, spike, which is good if you're long cause you won't be selling lol, but from a trend perspective it's not healthy in my opinion.Ignored
Dislikedcareful with the peaks though, they are looking for a reason to rally - if a peak is broken, it usually jumps up pretty high. In this case I would expect a break of 96.95 would push it to 97.20-97.50 fairly easy.
what we look for is weakness - failed rallies, not breaking the peak, etc...
once we see those behaviors, it could then be running out of steamIgnored
Yeah, it will pullback - the market is fluid, it's just a matter of 'when'. None of the longs get paid until they start selling their positions.Ignored