Hi fellows, USDJPY is losing upside momentum. Watch for impulse on lower time frame for downside. In case price break up then we will watch for TCP ( Trend Continuation Pattern) outside the descending channel for upside. Good Luck fellows.
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Price testing the trend line. Short term trend is still up dont sell early. Watch for impulse on lower time frame if impulse appears on 15 minute time frame then look for sell. Any sell before the impulse appearance gonna be against the short term up trend and gonna be early sell so watch for impulse on 15 minute time frame before jumping in the market. Good Luck fellows.
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Price action getting stronger on lower time frame.
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Price action is getting good Under the trend line watch for impulse. Impulse is about to due. Here is the update fellows.
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For upside price has to break up clear than it will give us signal that it is going to continue. As long as price gonna stay with in the channel or breaks up correctively this will not change the short idea. Only short idea gonna change once price clearly break up with strong candle and forms TCP. Here is the update.
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Price has broken the trend line watch for TCP fellows.
@MarcMadoc, This gonna break the canal with a nice breakout :)
Wave-Trader
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@MarcMadoc, if so we have to watch for TCP for continuation if we dont see after break out price will fall back in the channel again.
MarcMadoc
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@Wave-Trader, The market said to me, nope, not this time, learn a lesson = SL ...
Wave-Trader
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@MarcMadoc, You sold early and blindly fellows. I sold it now.
Sylvi
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Hi, I'm a bit confused what I see on your last chart as the last few red candles with the trendline do not appear on my charts. How could that be possible?
Mobi0007
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May it would be a bigger correction of TCP for upside....
@Wave-Trader, after all im not worry about it, because i know you are always here for assist us...
Thank U
javiertu
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How far from the top of the channel to realize that we have a change in structure? I think price still need to go down within the channel but when price goes out of it for 40, 50 + + + pips, I start getting anxious