From USD/JPY 15 min chart, I have place on chart Major Resistance & Support areas. Also, major down trend did break (yellow triangle area), then PA when back up to major Resistance last day of trading. Noted on chart are areas that would have been low risk & safer places to initiate new trades. ( These are the GREEN & RED "X' areas)- which are either when ema 9 & ema 26 crosses, support/resistance areas or break out of consolidation areas on charts.
*TIP: on lower time frames of either 1 min or 5 min charts--- I utilize ema 9 and ema 26 plus ema 50 to assist me in confirming momentum, trending direction & entry areas to make new trades from. Know why you start trades!!!
Noted on chart area areas of #1 support & #2 support, which I believe price action will go to and consolidate some, before either continuing in same direction (Bear) and/or turn around...continue to monitor price action next week.
*TIP: on lower time frames of either 1 min or 5 min charts--- I utilize ema 9 and ema 26 plus ema 50 to assist me in confirming momentum, trending direction & entry areas to make new trades from. Know why you start trades!!!
Noted on chart area areas of #1 support & #2 support, which I believe price action will go to and consolidate some, before either continuing in same direction (Bear) and/or turn around...continue to monitor price action next week.