Hello everyone,
I hope everyone had an amazing week and trading week. The market has come to a close so I have performed some pre market analysis to prepare for next week. This past week UJ was very bullish and had some serious gains over and broke a daily resistance level at 132.555. Price then proceeded to go higher before hitting the next daily resistance zone at 133.606, where it began a strong bearish drop off. I will be looking for a retracement in the price area of 132.9-133 to enter for a sell once there is a rejection. If there is a rejection in the four hour candle after the retracement and you decide to enter the trade, we are looking for price to drop down into the 131.700 zone.
If you have any question or enjoy this analysis breakdown please like, share, and comment.
I hope everyone had an amazing week and trading week. The market has come to a close so I have performed some pre market analysis to prepare for next week. This past week UJ was very bullish and had some serious gains over and broke a daily resistance level at 132.555. Price then proceeded to go higher before hitting the next daily resistance zone at 133.606, where it began a strong bearish drop off. I will be looking for a retracement in the price area of 132.9-133 to enter for a sell once there is a rejection. If there is a rejection in the four hour candle after the retracement and you decide to enter the trade, we are looking for price to drop down into the 131.700 zone.
If you have any question or enjoy this analysis breakdown please like, share, and comment.