Never Ever Give Up
Dragon or Snake - GU, UJ, GJ, EU, EJ
- #1,162
- Edited 11:30pm Feb 15, 2018 10:30pm | Edited 11:30pm
- | Joined Jun 2008 | Status: Learning Properly This Time! | 1,212 Posts
Keep It Simple Stupid
- #1,163
- Feb 15, 2018 11:38pm Feb 15, 2018 11:38pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} Will it reverse? GBP Retail sales figures is expected to be positive later so it might just continue the upwards move
But yeah GU is at the trend line.
- #1,165
- Feb 15, 2018 11:43pm Feb 15, 2018 11:43pm
{quote} This thing briefly broke support yesterday then went up fiercely. I'm scared to short this right now lol. Besides, it's Chinese New Year I don't want to loose money today. So, I'm taking my family to watch a movie.
Never Ever Give Up
- #1,170
- Feb 15, 2018 11:56pm Feb 15, 2018 11:56pm
- Joined Mar 2013 | Status: Trader | 6,512 Posts
{quote} Lol. Then he needs to inform us. It's already only 4 or 5 traders participating
Calling Edmund! Calling Edmund! Yooohoooo Sumar needs you.
- #1,175
- Feb 16, 2018 1:37am Feb 16, 2018 1:37am
- | Joined Jun 2008 | Status: Learning Properly This Time! | 1,212 Posts
Keep It Simple Stupid
- #1,177
- Feb 16, 2018 3:01am Feb 16, 2018 3:01am
- | Joined Jun 2008 | Status: Learning Properly This Time! | 1,212 Posts
Keep It Simple Stupid
- #1,178
- Feb 16, 2018 4:01am Feb 16, 2018 4:01am
- Joined Nov 2009 | Status: Trader | 2,756 Posts
Exits == most important part of your strategy
- #1,180
- Edited 9:27pm Feb 18, 2018 1:56pm | Edited 9:27pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Current market on USDJPY may disappoint traders who make buy trading decisions on the basis of ‘oversold’ indicator readings because the technical outlook is still bearish on the pair, in spite of sideways operation and pullbacks along the way. Here's a technical analysis.
On the weekly time frame, price action on the USDJPY has ranged in a horizontal channel (bound by magenta coloured horizontal lines) between 108.200 and 114.150 since April 2017. But between January 21, 2018 and first of February 2018, price action consolidated around the 108.360/110.275 area. Last week, a bearish candlestick broke down the channel support, moved below the major consolidation area, and drove down to hit the immediate support around the 105.460 area. However, just before the close of session, bulls resisted further move but it was clear that bears held sway. We may see bears attempt to take price action further southward this week but bulls appear poised to resist the move. Technically, the result of this struggle is likely to be a sideways operation of price action in the early part of this week before further bearish continuation. An initial target of bears is likely to be the 104.330 area, a minor support zone; this may expose the 104.300 handle.
I may be wrong. Trade safe and prosper.
KP
On the weekly time frame, price action on the USDJPY has ranged in a horizontal channel (bound by magenta coloured horizontal lines) between 108.200 and 114.150 since April 2017. But between January 21, 2018 and first of February 2018, price action consolidated around the 108.360/110.275 area. Last week, a bearish candlestick broke down the channel support, moved below the major consolidation area, and drove down to hit the immediate support around the 105.460 area. However, just before the close of session, bulls resisted further move but it was clear that bears held sway. We may see bears attempt to take price action further southward this week but bulls appear poised to resist the move. Technically, the result of this struggle is likely to be a sideways operation of price action in the early part of this week before further bearish continuation. An initial target of bears is likely to be the 104.330 area, a minor support zone; this may expose the 104.300 handle.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money