Those of You who trade gbpjpy pair with the use of simphpny might be interested what do I see in this pair.
For today it is rather in a boxing - range mode, but as it has broken up the trend line on weekly chart - I could expect a kind of retrace,
I can also see a "W" formation at the bottom which has not executed its move 100% up, so I would expect a move down to the top of it (W) that could be described as the weekly TL confirmation, and than up continuation.
Why do I expect that:
- h4 shows consolidation
- it could break up also and continue boxing, but if it breaks down of the 1h lower TL - I will look for a short simphony signal and try the move down of about 100 pips to the 133 round number, but would be very picky not to lose an ocasion for the further move down as at this point the price would brake the daily TL - to the W - weekly/daily top - another 300 pips more
I will watch gj, if it behaves as I expect - It will atract my attention instead of looking for other opps and overtrading
Good Job everyone - Thank You,
peter
For today it is rather in a boxing - range mode, but as it has broken up the trend line on weekly chart - I could expect a kind of retrace,
I can also see a "W" formation at the bottom which has not executed its move 100% up, so I would expect a move down to the top of it (W) that could be described as the weekly TL confirmation, and than up continuation.
Why do I expect that:
- h4 shows consolidation
- it could break up also and continue boxing, but if it breaks down of the 1h lower TL - I will look for a short simphony signal and try the move down of about 100 pips to the 133 round number, but would be very picky not to lose an ocasion for the further move down as at this point the price would brake the daily TL - to the W - weekly/daily top - another 300 pips more
I will watch gj, if it behaves as I expect - It will atract my attention instead of looking for other opps and overtrading
Good Job everyone - Thank You,
peter
Jesus Christ is my only Lord !