GBPJPY
Now strat's feedback please.
First, BC, do NOT restrict feedback from only me. You need to encourage feedback from your fellow traders because EVERYONE sees different things.
Big Boss: Long term down trend and immediate uptrend. Big boys didn't show interest on this pair for the last few months. However, now they seem to be interested in pushing the price down. Significant monthly support 148.19 looks to be breaking. As usual, we need to wait for today's close(being end of the month close) for it to close below that. I am not predicting waiting and watching.
Very good. You have correctly identified your support and resistance levels.
Boss: The supporting trend line that has been supporting since the beginning of the hammer on 2nd October, looks to be breaking. WCC also under threat. Again, we need to wait until end of this week to confirm anything. The last upper trend in the weekly charts didn't have much of momentum going up. Keeping a watch.
Your trend line is not drawn correctly. PASR always draws trend lines from the root through significant swings - Try again.
The last upper trend in the weekly charts didn't have much of momentum going up
Please show me this ""last upper trend""
Worker: The last LL is at 146.927 which is a significant support even in the past. Price is close to the support. Breaking that support (only by a close of candle beyond that support) is significant for us to wait for PA and enter. Overall keeping a watch.
The last LL is at 146.927
Almost right. The last major swing low is at 146.92. Make sure you can SEE this CONFIRMATION on the Boss.
significant support
Do not try and differentiate support and resistance at your level as it will confuse you. For where you are now, support is support and resistance is resistance.
Very good. You are well and truly on The Path.
Why are you showing 3 digits after the decimal point on JPY pairs? I have posted before that there are only 2 digits for JPY pairs.
Next, although much further on The Path than where you are now, consider adding the Strat Shadow.
Since you are able to do the 3 time frame analysis very well, we need to see your UNDERSTANDING of The Power of Time Frames so go the next step and try to identify trades.
DislikedHi Strat, Another analysis on GBP JPY. Looks like interesting times ahead. Big Boss: Long term down trend and immediate uptrend. Big boys didn't show interest on this pair for the last few months. However, now they seem to be interested in pushing the price down. Significant monthly support 148.19 looks to be breaking. As usual, we need to wait for today's close(being end of the month close) for it to close below that. I am not predicting waiting and watching. Boss: The supporting trend line that has been supporting since the beginning of the hammer...Ignored
First, BC, do NOT restrict feedback from only me. You need to encourage feedback from your fellow traders because EVERYONE sees different things.
Big Boss: Long term down trend and immediate uptrend. Big boys didn't show interest on this pair for the last few months. However, now they seem to be interested in pushing the price down. Significant monthly support 148.19 looks to be breaking. As usual, we need to wait for today's close(being end of the month close) for it to close below that. I am not predicting waiting and watching.
Very good. You have correctly identified your support and resistance levels.
Boss: The supporting trend line that has been supporting since the beginning of the hammer on 2nd October, looks to be breaking. WCC also under threat. Again, we need to wait until end of this week to confirm anything. The last upper trend in the weekly charts didn't have much of momentum going up. Keeping a watch.
Your trend line is not drawn correctly. PASR always draws trend lines from the root through significant swings - Try again.
The last upper trend in the weekly charts didn't have much of momentum going up
Please show me this ""last upper trend""
Worker: The last LL is at 146.927 which is a significant support even in the past. Price is close to the support. Breaking that support (only by a close of candle beyond that support) is significant for us to wait for PA and enter. Overall keeping a watch.
The last LL is at 146.927
Almost right. The last major swing low is at 146.92. Make sure you can SEE this CONFIRMATION on the Boss.
significant support
Do not try and differentiate support and resistance at your level as it will confuse you. For where you are now, support is support and resistance is resistance.
Very good. You are well and truly on The Path.
Why are you showing 3 digits after the decimal point on JPY pairs? I have posted before that there are only 2 digits for JPY pairs.
Next, although much further on The Path than where you are now, consider adding the Strat Shadow.
Since you are able to do the 3 time frame analysis very well, we need to see your UNDERSTANDING of The Power of Time Frames so go the next step and try to identify trades.
15 YEARS OF PASR ON FOREX FACTORY!