USDJPY H1 finally coming back to test diagonal uptrending support. I favor an entry around the grey rectangle. However liquidity is gonna start to drop off.
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DislikedWatching USDCAD. In a potential wedge in the green box, price at 1.3250 horizontal yet again. Time to be patient and see how this plays out, we do not wanna get ground up in a wedge, that'll just give you a headache. Watching the red lines top and bottom. Bottom red has potential to be support but we have to see it reject, it's just a line for now, meaningless until proven. Top line could be good. Compare earlier DXY chart to this, see the difference in momentum? Interesting huh? {image}Ignored
DislikedUSDJPY H1 finally coming back to test diagonal uptrending support. I favor an entry around the grey rectangle. However liquidity is gonna start to drop off. {image}Ignored
Disliked{quote} This is my H1 NZDUSD chart. Assuming the fork is correct the red arrow is an area where one might have sold. If so why or why not? No wrong or right answers because I don't know either. Just want some input on entries. Hope everyone responds. Thanks! {image}Ignored
DislikedUSDJPY H1 finally coming back to test diagonal uptrending support. I favor an entry around the grey rectangle. However liquidity is gonna start to drop off. {image}Ignored
DislikedWatching WTI Crude at these levels. Could get interesting. Even if you never trade it, it has implications for CAD, JPY and USD so always worth watching. When oil is in the news, and the news is bullish, it can send USDCAD lower and USDJPY higher. On the face of it, you might wonder why one inverse USD pair is weakening whilst the other is strengthening. Canada is net exporter, and Japan net importer of the black stuff. Opposite ends of the supply demand see-saw. (Remember though, with correlations YMMV.) Notice the angle of the up forks is almost...Ignored
Disliked{quote} You were close to the bottom there, but what does the chart show now? We must be fluid and read price action as it happens and use the forks as a guide to trade the price action. I don't usually trade multiple time frame these days but the 1hr is also shown as you posted the 1hr chart {image} {image} {image}Ignored