EURJPY Uptrend Start, or retracement for downtrend continuation
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Not a setup, but a downtrend continuation prediction is what I have in mind.
Price could follow the uptrendline, to continue up as Fibonacci tool predicts where it will lead to,
while 117.7 hit 61.8% & may be enough to continue downtrend with Traders Dynamic Index indication of reversal from an uptrend start.
Or price to move up according to its minor fibonacci lines 61.8% to 119.6, being, still at a red zone of the major fibonacci, allowing a turning point in the future to continue down if other conditions necessary continue to be met at that time.
Price could follow the uptrendline, to continue up as Fibonacci tool predicts where it will lead to,
while 117.7 hit 61.8% & may be enough to continue downtrend with Traders Dynamic Index indication of reversal from an uptrend start.
Or price to move up according to its minor fibonacci lines 61.8% to 119.6, being, still at a red zone of the major fibonacci, allowing a turning point in the future to continue down if other conditions necessary continue to be met at that time.
ノート
Failed prediction in immediate days.This recorded prediction is added to my skills and written strategy explaining all possible events.
Essentially this Failed prediction is improving my strategy as I explained in my Public Profile "Status".
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Comments/Questions are welcomeノート
This was truly an upward breakout for the start of a new trend.ノート
Personal Notes:How could I know it would breakout?
Traders Dynamic Index analysis confirmation?
Did I check Higher time frame Traders Dynamic Index indication?
No, yet H4 makes trough be seen as a likely pullback, thereby preventing incorrect entry.
Supertrend did signal such trend start.
ノート
Multiple Time Frame Analysis was not available for me at that time, so I was more prone to error.
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