Trend: Inverted H and S breakout
Time frame: 1 and 4 Hour
Look for a retest of the neck line, i'm placing an order there with a tight stop
Time frame: 1 and 4 Hour
Look for a retest of the neck line, i'm placing an order there with a tight stop
Note
edit, entry on chart should be between 107.84 and 107.92Note
Price dipped just slightly below the 0.618 level that I was expecting. On the weekly TF (see below), price tapped the 0.318 area and weekly stochastic is starting to turn bearish. Short term trend up may continue for a bit, but overall I think we may head lower if this area fails.Note
Price is testing the neckline, if a break above occurs than i will keep my trade open, if not i will close immediately. USD has been strong against other currencies for a few days and especially today, but JPY has also been pretty strong today so downside my be around the corner
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.