good morning all...
I was looking at some forex majors' charts this morning and realized that gbpjpy has turned from a resistance level since the beginning of the week on daily chart. roughtrader, could you tell me your thoughts about this? at which points on the chart should we look at? surely, the spinning top on monday (or 2 spinning tops on h4 on monday and tuesday) would be the best place to enter. however, would it be too late to enter as it has already gone around 90 pips from the high, or would it be okay since it has about 400 pips to the next serious support on daily? I will not be live trading this, but I'm trying to grasp your vision of charts and movements...
one more question... what was the "zone" you were looking at on EU yesterday. you were right that the parity ranged within 50 pips.
ismail...
I was looking at some forex majors' charts this morning and realized that gbpjpy has turned from a resistance level since the beginning of the week on daily chart. roughtrader, could you tell me your thoughts about this? at which points on the chart should we look at? surely, the spinning top on monday (or 2 spinning tops on h4 on monday and tuesday) would be the best place to enter. however, would it be too late to enter as it has already gone around 90 pips from the high, or would it be okay since it has about 400 pips to the next serious support on daily? I will not be live trading this, but I'm trying to grasp your vision of charts and movements...
one more question... what was the "zone" you were looking at on EU yesterday. you were right that the parity ranged within 50 pips.
ismail...