USD/JPY- is approaching a long standing support level of 98.70. Will this hold?
I don't think it will.
Here are the letters and what "TRADE-MAP" means to me (first the letters in TRADE):
1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
Now the letters in MAP:
6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance. There you have it: Don's personal "TRADE-MAP.
"Don's Top Ten Technicals" using TRADE-MAP:
1. The Ichimoku Cloud is FALLING. 2. Prices are trading BELOW the cloud. 3. Prices are trading BELOW the thick red Ichimoku Cloud Conversion line.
4. The thick red conversion line is moving SHARPLY LOWER. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud and this has been HEADING SHARPLY DOWN.
6. The indicator on the top of the page is RSI / Stochastic , and this is not strong enough to rally-USD/JPY on oversold readings. 7. The top-side middle indicator is vortex and this is NEGATIVE (red over green). 8. The Top-lower-level (bar-type) indicator measures the "phase energy", and this is VERY WEAK. It is consistently below the zero line, which indicates selling pressure. 9. The red fractal arrows (not pictured) are DOWN. 10. Look to the far lower right on the chart, around $102. You will notice a yellowish line on the bottom (jaws), with black dots above (teeth), and a blue line (jaw) above the black dots. Now, all three are OPENED, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of an AWAKE, FEEDING alligator, and the alligator is feeding into the DOWN-TREND.There may be a closing of the alligator's jaws at $98.70, but I feel they will re-open in a new down-phase when the price action fails at the 89 day moving average .
USD/JPY-has multiple weak technical indicators. Based on what the chart is telling me, the trend for-USD/JPY is in a solid down-trend.
Good luck to you. Don.
I don't think it will.
Here are the letters and what "TRADE-MAP" means to me (first the letters in TRADE):
1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
Now the letters in MAP:
6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance. There you have it: Don's personal "TRADE-MAP.
"Don's Top Ten Technicals" using TRADE-MAP:
1. The Ichimoku Cloud is FALLING. 2. Prices are trading BELOW the cloud. 3. Prices are trading BELOW the thick red Ichimoku Cloud Conversion line.
4. The thick red conversion line is moving SHARPLY LOWER. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud and this has been HEADING SHARPLY DOWN.
6. The indicator on the top of the page is RSI / Stochastic , and this is not strong enough to rally-USD/JPY on oversold readings. 7. The top-side middle indicator is vortex and this is NEGATIVE (red over green). 8. The Top-lower-level (bar-type) indicator measures the "phase energy", and this is VERY WEAK. It is consistently below the zero line, which indicates selling pressure. 9. The red fractal arrows (not pictured) are DOWN. 10. Look to the far lower right on the chart, around $102. You will notice a yellowish line on the bottom (jaws), with black dots above (teeth), and a blue line (jaw) above the black dots. Now, all three are OPENED, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of an AWAKE, FEEDING alligator, and the alligator is feeding into the DOWN-TREND.There may be a closing of the alligator's jaws at $98.70, but I feel they will re-open in a new down-phase when the price action fails at the 89 day moving average .
USD/JPY-has multiple weak technical indicators. Based on what the chart is telling me, the trend for-USD/JPY is in a solid down-trend.
Good luck to you. Don.
