EURJPY W forming up or continuation?
Even tho we are overall Bearish, i think that the momentum could have died.
On the first inner trendline we did form an M in fact, but just over we have the monthly level, thats why I choose to stay out, we previously formed a W after a huge bear push, but not just after a trendline
Right now the price is failing to make lower lows and respect the lower counter trend, so are making the 2nd pont of a bigger TF W, or making the low of an M to continue the trend, but im leaning towards the first option due that we are un a very low area and big support.
On the first inner trendline we did form an M in fact, but just over we have the monthly level, thats why I choose to stay out, we previously formed a W after a huge bear push, but not just after a trendline
Right now the price is failing to make lower lows and respect the lower counter trend, so are making the 2nd pont of a bigger TF W, or making the low of an M to continue the trend, but im leaning towards the first option due that we are un a very low area and big support.
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