I'm also watching GBPUSD, USDJPY and EURJPY. These move a little more steady, and can confirm the direction of the GBPJPY, since thay are related pairs. Making a run down now.
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DislikedOne thing that always puzzles me is knowing which way it will go!
Now with the London Opening it's going to go one of 2 ways up or down, but which one! Will it break through the trend line and go up or bounce and go down.
How do you read these things FxD? I have both Stochastics and MacD on my chart and they both looking high tending to south. Do you use an indicator like those or is it experience and gut feeling? Or do you look for a particular shape of candle?Ignored
DislikedThanks for taking the trouble for your thoughtful post appreciate it. Yes it does help, I know I have a lot to learn yet!
I know it's late there, I have a daughter in the States, so good night have a great wkend watch for your insightful posts next weekIgnored
Disliked"Dad", I really love what you said about GJ making other pairs boring! I do think there is an "instinctual" aspect to trading and last night was a perfect example.
I get my cues from the 4hr chart and the descending channel was simply too convincing. Add to that the stall in the Asian at the 4hr 382 fib, the hints were there. I wish it was always this clear.
But what kills me with the GJ is the size of the consolidation times...just enough to fool ya!...
(Fib should be reversed to reflect above)Ignored