Some confidence in UDJPY !
after some heavy bearish movement, swings seem likely on the chart, so it makes sense to go back long, even if the channel does not give absolute certainty. However, the long term movement might still be downward, so make sure we set our take profit above the red dotted line, which will still give some nice cash from the Fib Retracement. Also, watch out for any reopening on the MACD, might be a sign that reversal into bullish momentum might not be lasting...
after some heavy bearish movement, swings seem likely on the chart, so it makes sense to go back long, even if the channel does not give absolute certainty. However, the long term movement might still be downward, so make sure we set our take profit above the red dotted line, which will still give some nice cash from the Fib Retracement. Also, watch out for any reopening on the MACD, might be a sign that reversal into bullish momentum might not be lasting...
Trade closed: target reached:
coming close to the downward trend on the red line... Time to call it quids!