MARKET ANALYSIS: The price is now trading inside a ascending channel. it has reached the support level. The market came and took a strong support level at the 61.8% fib level. So if the channel support holds we can expect a move to the next possible resistance zone. A break below can make the price to move towards the support zone then start rally to the resistance zone. So lets wait and see what the market does in the coming days. Cheers!
Komen
Trader_Dale
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Thanks for your analysis!
Here is my view on CAD/JPY if you are interested:
Based on Market Profile (volumes) and Price Action there is very strong swing support at 84.261. The market is in a strong uptrend and this is the closest strong support in the way up. If the market makes a trend correction I will go long from there.
In this support zone there are cummulated heavy volumes of big players who drove the price higher - you can see that in the Cummulative volume profile shown on the right sideof the chart.
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there.
Dale
FiguringOutFinance
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Agreed, best to be patient on this one! Cheers for the idea post.
Here is my view on CAD/JPY if you are interested:
Based on Market Profile (volumes) and Price Action there is very strong swing support at 84.261. The market is in a strong uptrend and this is the closest strong support in the way up. If the market makes a trend correction I will go long from there.
In this support zone there are cummulated heavy volumes of big players who drove the price higher - you can see that in the Cummulative volume profile shown on the right sideof the chart.
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there.
Dale