Forexmospherian
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I will start with my favourite ( most of the time ) the Eur / Jpy or as I say EJ or EY.
I have a line in the sand area for the AM session - a price area that is of importance for movements and that is 141 50 to 141 60 .
For me i am looking whilst we stay above - 50 and 60 will act as supports for price trying to rise up to the next R area - ie 141 80/85 and then 142 00
Below 141 60 and 50 - this area becomes a resistance itself and price will more than likely fall further to supports at 40-45 or lower and 141 20 ish
The last 2 -3 hrs price as been falling from the 80 area and is currently 63 just before the hr change
i will now be seeing if 50 to 60 will hold it - ready for a scalp buy
I have a line in the sand area for the AM session - a price area that is of importance for movements and that is 141 50 to 141 60 .
For me i am looking whilst we stay above - 50 and 60 will act as supports for price trying to rise up to the next R area - ie 141 80/85 and then 142 00
Below 141 60 and 50 - this area becomes a resistance itself and price will more than likely fall further to supports at 40-45 or lower and 141 20 ish
The last 2 -3 hrs price as been falling from the 80 area and is currently 63 just before the hr change
i will now be seeing if 50 to 60 will hold it - ready for a scalp buy