EURJPY Aug 27-31
This will be the first of many markups...
I'm looking at EURJPY on the 4hr...
I see a clear downtrend with 3 touches of the trend line...
Price retraced up to the 71% level perfectly and closed the week on a bearish candle... (Not engulfing but I'm convinced she's running out of steam)
I see price dropping to the 61% region before double topping and retesting the 71%...
I then see price moving swiftly to the downside...
THAT IS PLAN A.
---------------------
PLAN B is the complete opposite...
Break of the trendline and a push up to the 78% region before dropping again to retest the 71%...
Then price will make another push higher...
Hope that made sense...
Any questions about anything hit me up!
I'm looking at EURJPY on the 4hr...
I see a clear downtrend with 3 touches of the trend line...
Price retraced up to the 71% level perfectly and closed the week on a bearish candle... (Not engulfing but I'm convinced she's running out of steam)
I see price dropping to the 61% region before double topping and retesting the 71%...
I then see price moving swiftly to the downside...
THAT IS PLAN A.
---------------------
PLAN B is the complete opposite...
Break of the trendline and a push up to the 78% region before dropping again to retest the 71%...
Then price will make another push higher...
Hope that made sense...
Any questions about anything hit me up!
Penafian
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