U/J is once again firmly within consolidation range. Until price breaches 113.5XX or 111 I no longer have any interest in trading this pair. I've sacrificed enough capital breaking my rules and entering early trading this god-awful range. Looking at other pairs because my system has no good entries within this chopzone of a range.
I will come back to U/J at some point because it is generally a strongly trending currency. However that may not be for a significant period of time. While perhaps we'll get a decisive break relatively soon, I doubt it, and we could easily be within this range for days, weeks, or months. Until it breaks I will be taking zero position and spend very little time examining price action.
Good luck to all those trading.
I will come back to U/J at some point because it is generally a strongly trending currency. However that may not be for a significant period of time. While perhaps we'll get a decisive break relatively soon, I doubt it, and we could easily be within this range for days, weeks, or months. Until it breaks I will be taking zero position and spend very little time examining price action.
Good luck to all those trading.
