DislikedEURJPY looking at a bounce on TDI (red arrow) It's currently sitting on S1 support on a shorter time frames and oversold and I reckon there may be some profit taking into Asia. If it pulls back to the pivot I'm in short. Will not hold over weekend as my brokers SWAPS will increase dramatically due to JPY public holidays. If it does come down the weekly candle will be a long-legged doji on a gap open, which I find very interesting indeed... {image}Ignored
We are in an uptrend and then into a consolidation area. There are 2 tests of the consolly high, the
last is a pin bar and might be forewarning of a reversal. The close of the last bar is below the pac however
not below the consolly area. The breakout of a consolidation area is on the
close of a bar.
The second to last bar shows good momentum on TDI (re: aqua dot on green)
but the bar itself shows sellers strong at one point and then buyers took
one half of it a way from them. Leads me to wonder how strong the momo is.
I'll wait for bar close.
regards
Frank
eurjpy-h4-forex-capital-markets-4.pnghttps://www.forexfactory.com/attachm...1&d=1493319851