This AOI shown has proven to be a near-term dictator of direction in recent years, with clear demand (2015-2017), two flips of supply/demand (2017-2018) and once again a flip and current retest of supply.
In 2015-2017, this area provided demand multiple times before reaching decade highs of ~100.xxx and then at 103.xxx to print a HH.
In 2018, 30th April weekly candle reaches area of interest, then spends one week consolidating in said area before a break out and test which led to a 1.5 year run.
Currently, we have played out the same course as 2018, accumulating between 88-91 and then making the up move to the AOI.
Now of course... let's consider how last year's money printer drove the price down from decade highs. With ~$3tn stimulus incoming, could this supply area be what is needed to break DXY's significant macro upwards channel? Are we seeing a wide distribution here in the making? Or are we going to reclaim this AOI as demand and continue plowing upwards to the daddy macro channel?
Plotted date ranges mark USDJPY seasonal opening bell.
In 2015-2017, this area provided demand multiple times before reaching decade highs of ~100.xxx and then at 103.xxx to print a HH.
In 2018, 30th April weekly candle reaches area of interest, then spends one week consolidating in said area before a break out and test which led to a 1.5 year run.
Currently, we have played out the same course as 2018, accumulating between 88-91 and then making the up move to the AOI.
Now of course... let's consider how last year's money printer drove the price down from decade highs. With ~$3tn stimulus incoming, could this supply area be what is needed to break DXY's significant macro upwards channel? Are we seeing a wide distribution here in the making? Or are we going to reclaim this AOI as demand and continue plowing upwards to the daddy macro channel?
Plotted date ranges mark USDJPY seasonal opening bell.
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Ruh roh
評論:
1D - Rising ascending wedge with triple bearish divergence
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Update of triangle post current top trendline fake out:
