Alright I got charts of the geppy, pounder, and gopher dailys and a weekly of geppy. There's an inside bar on the daily of geppy. I would not be surprised if it breaks up on Monday for another test of 151.50. This is very dangerous in my opinion because of that bearish pattern on the dollar yen daily. Geps ain't going too far without a bullish dollar yen imo.
I don't know what that move in the pound was all about yesterday, but now I am expecting it to stall around 153.50 to 154. That's where it tanked last time it got into that zone. I will be looking for bearish price action in this area.
If you look at the weekly chart of geps you'll see that the 34 ema (light blue line) is clearly keeping price in check.
At the end of the day, these bull moves are orchestrated by liquidity, which is pumped in by the Federal Reserve. Tons of treasury supply will be hitting the market soon, so you have to be nimble. Don't get sucked in by the bull story, because those crooks will pull the rug out when you least expect it. I hope this makes some sense . . . trade safe.
I don't know what that move in the pound was all about yesterday, but now I am expecting it to stall around 153.50 to 154. That's where it tanked last time it got into that zone. I will be looking for bearish price action in this area.
If you look at the weekly chart of geps you'll see that the 34 ema (light blue line) is clearly keeping price in check.
At the end of the day, these bull moves are orchestrated by liquidity, which is pumped in by the Federal Reserve. Tons of treasury supply will be hitting the market soon, so you have to be nimble. Don't get sucked in by the bull story, because those crooks will pull the rug out when you least expect it. I hope this makes some sense . . . trade safe.
"Don't trade to trade . . . trade to win." - James16