To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=learn_trading&ad=mEm6Wplz7Pk Fibonacci from the highest high of the blue trend line, very top of the chart, down to our most recent low that the currency pair has made puts the .236 fib right in the middle of our yellow zone, 113.95. So, again, it’s pushed above that .236 fib, pushed above that Fibonacci level, the yellow zone, where remember over here it found a lot of support. Over here it found resistance, so we know it’s a decision zone. The risk in that scenario is that it breaks back underneath the yellow zone and resumes the downtrend. .382 of the previous downtrend also sits right here at the green zone, 114.85. So, again, that gives us a target to shoot for. Above the .236, the .382 becomes our target to shoot for on the way back up. So, how do we find lower risk and higher reward? Well, I think to find lower risk, you always want to buy, if you’re going to buy, at a lower point. So, what we’d like to see is the market stay above the yellow zone, 114, 114.10, maybe dip back down to it on top of 114.00, 113.95, and become a buy scenario to target back to the green zone. And all of that of course is in the opposite direction of the longer-term trend. I understand that, but definitely have some bullish momentum right now on the intraday for the USD and I think we want to take advantage of that if it’s going to continue moving in that direction. We definitely want to watch signs for reversal back in the direction of the trend. Again, Forex Black Book is red. We’d look for a sell signal. We don’t have one at the current moment. I think back up here at the green zone. Take a look right here at the green zone. It rallied into the green zone, found resistance, red arrow, and then turned around and went back down. So, I think that’s kind of what we’re looking for. Even if we take Fibonacci – just the last high, this high right here, down to the current low -, we find the .618 right here, where the current market price is, 114.45 or so. Above the .618, .786 is 114.95, and that is of course up here at the green-shaded area, and the 50 percent of that range right there sits right here in the middle of or just towards the top of that yellow-shaded area. So, all in all, if we’re going to trade this today, I think if we’re going to take advantage of the current intraday momentum, we buy the yellow zone. Target the green zone. If you’re looking for a short or sell opportunity, I think you wait for the green-shaded area as your resistance for the USDJPY today. https://www.youtube.com/watch?v=mEm6Wplz7Pk Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.
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The most confusing chart hahaha...dude keep it simple