In yesterday's analysis, I expected UJ to reject the 106.10 key resistance zone with 105.65 minor support zone as the initial target, which was exactly what the market performed. In today's trading session, I will be looking for short-term selling opportunities extending our target towards 104.70 support zone 2. But ensure to monitor the price action, despite having bearish bias I wasn't satisfied with the wave down these past two days as the down move wasn't strong enough. I will be looking for another minor pullback to attract more buyers, before further selling pressure kicks in. Do not forget the long-term view remains bearish. If price violates above 106.21 resistance zone, that would invalidate the short setup.
Recently I've been receiving a lot of DMs regarding 'when to buy OR sell'. It is important to know that TV is a healthy and educational community, not a platform for you to look for signals or a definite answer. The only way you can become a consistently profitable trader is to improve your knowledge, no short-cut. Authors here are contributing for the sole purpose of improving the community and help new traders with clearer perspectives in the markets, not spoon feeding you. Have an open mindset, keep striving, keep learning.
"I feared boredom and mediocrity much more than I feared failure." - Ray Dalio
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Recently I've been receiving a lot of DMs regarding 'when to buy OR sell'. It is important to know that TV is a healthy and educational community, not a platform for you to look for signals or a definite answer. The only way you can become a consistently profitable trader is to improve your knowledge, no short-cut. Authors here are contributing for the sole purpose of improving the community and help new traders with clearer perspectives in the markets, not spoon feeding you. Have an open mindset, keep striving, keep learning.
"I feared boredom and mediocrity much more than I feared failure." - Ray Dalio
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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