Price May not quite be at Market efficiency just yet - Eurjpy Pair Spot price 129.69 The Swing high Phase is Expect to incorporate 135.00 as the High Mark & Close Bar - My decision as to A Swing High Phase is the that - The H1 Chart is extended and appears to be at this time at An Overbought Value State - A Move Lower would see the Pair at 124.85 as the Current Support Level - In my opinion Price will be heading towards Monthly Chart Cycle Lows at 118.86
I think that Price is now reacting to my 129.80 Allocated Support Level by going overbought at 47pip - So will A test to my forecast at 135.00 Expected Swing High Level. Lets See.
- Where I add A Journal - Is that the Rate as been Evaluated at 100% (percent) Accuracy as to the Price Moving Onwards - As well for saving me Time in remaining you about the Current Trend Direction & Covers - For the sake of Constant Reminders whilst the trend is in Transit - And at Best shows Advise that you can put into Practical Use whilst are you increasing your knowledge around the Forex Market.
Here`s A Quick Interday Play in-which I am Currently Watching - Eurjpy Pair Spot Price 131.48 Stoploss is place at 131.20 Buy Stop is set at 131.57 & High Mark & Close Bar (my target) is Expected at 132.70 Lets see how this one Shakes the House Down. - relying on a quick 120 pip move higher
There`s been a slight charge in Take Profit & Expected Close Bar allocation - New revised Prices will center at 1st Level 132.06 adding 56pip & 2nd Level 132.81 adding 130pip if trade is successful keep watching. Buy Stop is at 131.57.
Sorry Buy Interday Position since closed at Brake Even - I`m going the wrong way ---- EurJpy Pair Spot Price 131.26 There is a temporarily move to the Lowside towards 130.68. May prove to be adequate Support Level towards Higher Moves In Price at 135.00 - Am I forgiven for making a mistake.
131.82 Price has turned to the Highside again So I will be Expecting A Rise In Price 135.00 As High Target -
A Market Update - EurJpy Pair Spot Price 131.24 Price when correctly to the 130.68 Bar as Forecasted yesterday - There now appears to be An additional Resistance Level at 132.00 at the H1 the 30 minute & 15 minute chart Bars - As to Supporting my Original Theory that the Price Movement within the Derivative is set and will travel directly to Support Level Low at 126.15 In this Actual Instant Price looks set to travel to 126.67 Low As of the Daily Trend Low. - Once Arrived will settle at the Level - Before A Swing High Phase - Back to 132.00 or there about. - This will conclude as Check & Check Mate - Against the EurJpy Pair if my forecast is proven right. We`ll have to Watch & See for the announcement & result - So keep watching this space.
There now appears to be An additional Resistance Level at 132.00 at the H1 the 30 minute & 15 minute chart Bars - As to Supporting my Original Theory that the Price Movement within the Derivative is set and will travel directly to Support Level Low at 126.15 In this Actual Instant Price looks set to travel to 126.67 Low As of the Daily Trend Low.
Just through the movement of the Pip - We become confused - Than are only source remaining to achieve success will lay in identifying the next best thing - Is through Chart Pattern Formation. – You have to stop being scare of it - In my Opinion - Its just like chasing Bigger Brother Around.