Recent content by Primetrader

USDJPY today hit our B Target at 93.70

Moreover, if the S1 and S2 supports crack without completing the rally mentioned above, I see a minimum of 6 to 7 H4 bars of sustained bearish push with a potential of going for 9 bars --- instead. On near term basis supports to consider in your short entries are: A.) 94.06/11; B.) 93.70s; and...

Moreover, if the S1 and S2 supports crack without completing the rally mentioned above, I see a minimum of 6 to 7 H4 bars of sustained bearish push with a potential of going for 9 bars --- instead. On near term basis supports to consider in your short entries are: A.) 94.06/11; B.) 93.70s; and...

Bearish movement prevails

A clear violation of the Crucial Weekly Support line (S) at 95.25/30s turned the table around. But as we draw attention to H4 component, a rally seems to be brewing at this point in time. The 14 bars cyclic trough may cause the turn around (up tick) as the pair just constructed its 14th bar low...

Now, here’s a close look at the price action by H4. Observe closely (on the 4-Hour Chart) the periodic oscillation of approximately 2 bars down and a bull reaction (rally) of about 3.5 to 4.5 bars that follows. This pair just went on 2nd bar along down last Friday and may have hit the floor...

Now on its second wave of decline

USDJPY on the 4-hour chart (H4) is on hard down. Only 2nd along on nominal duration play with about 3 to go and this will also be a total of 12 bars nominal wavelength for a possible bottom. Observe also the oscillating variation of either an 8 or 9 bars, 12 to 13 bars cyclical patterns...

H4 has topped out after a total "run up" of 7 consecutive bars. But the backpedal may not be too extensive or aggressive and may look only to 1.6546 for a foothold support and go for another round of bullish stride. Duration-wise, there appears to be two possible scenarios on this bullish push...

Remember, cyclicality is based on price and time (duration). I said 4th along on the H4 bars and a maximun of 7 bars, hence 3 more bars after that and if you go back to the chart you can see that the top price occurred on the 7th along H4 bar. This can also be scaled down to H1 and 15 minutes...

The principle of cycles shows you - how low is low? how high is high? and When is low? When is high?