USDJPY: Buy Opportunity at Support Level

I have been expection a rally to begin since a while, and looking at the 240min chart, I say that this my be the time. Price reached the lower parallel of the downsloping median line where it found good support (rejection). The best scenario before taking action is to wait for price to break above the sliding parallel of the fork, and wait for a pullback, ideally to the sliding parallel. In that case you may start watching for a buy setup completion joining the upcoming rally

Yorum:

Price reached the our initial target - the median line. Now in case you missed this upmove just wait to see if price reaches the quartile of the pitchfork. In that case watch for a buy setup as I believe price will keep climbing

İşlem kapandı: hedefe ulaştı:

Price moved beyond the expected target breaking above the upper parallel. In case it develops a correction most likely the rally will keep going