"Its confusing cause it didnt touch the cloud yet.....ok I'll wait till we touch the cloud to go long....its very tricky."
Breeze this is what I have compare it against your notes:
I am Short @
My indications show this pullback going to 211.00 but it will most likely only hit this point once, IF it hits this point.
I have been watching G/J all day...I trade a certain pattern I have discovered with G/J that works very well... Problems I am seeing with it this time....it took nearly 3 hours to break the Daily Pivot on USD/JPY....first attempt was denied hovered, got repulsed....gathered momentum plummeting 25 pips crashing through the pivot but was utterly denied the chance to close below pivot on the 5 min chart....since finally breaking GBP/JPY has moved into a tight range....
-Weekly Trend is Definitely LONG, will be looking for targets as high as 225.00 in the coming weeks (IMO definitely 221.00 or higher)....seems far fetched right now, but only time will tell, and just note that I wrote it now
-Daily still has room to go up, but looking at a temp. reversal...most likely to happen early next week
-4 hour is down but getting ready to bottom out...but that would be hours from now, suggesting room to still move down
-1 hour is showing signs of reversing to go long
-30 min and 15 min are showing indecision and do not know where to go
The pair historically wants to complete the pattern that I trade, but there is ALOT of buying pressure. This is a very Tricky situation. Ichimoku Cloud sits at 211.73 to 210.28 on 1 hour chart. My target is in the middle of this cloud now...I thought it would long ago hit it earlier today.
My BIAS: Short until Ichimoku cloud has been breached and will be looking for a reversal within it.
I will be looking for BUYs with anything lower than 212.00 and most likely every 50 pips from there.
This is just my opinion, feel free to comment