I am attaching two screenshots -- one of GBPUSD and one of USDJPY.
Now I had originally set my TP to 228.75, but I removed it once I saw what GBPUSD was doing...
See the BUOB? That's a big indication that cable is on its way up. And considering that cable (and GBPJPY for that matter) is still in an uptrend, this gives me a very good probability that cable will pull GBPJPY up with it. So I removed my TP and will watch PA going forward.
Do I expect a pullback in GBPJPY? Definitely. I suspect we'll see a 150-200 pip pullback to the 236 area tonight... (ask my cohort in crime, Raczekfx if he's going short on GBPJPY tonight during Asia...) But I plan to hold this thing (hopefully) for awhile.
I feel it's a good probability that we'll see a nice 750-800 pip run on GBPJPY (230-232)...
Now I had originally set my TP to 228.75, but I removed it once I saw what GBPUSD was doing...
See the BUOB? That's a big indication that cable is on its way up. And considering that cable (and GBPJPY for that matter) is still in an uptrend, this gives me a very good probability that cable will pull GBPJPY up with it. So I removed my TP and will watch PA going forward.
Do I expect a pullback in GBPJPY? Definitely. I suspect we'll see a 150-200 pip pullback to the 236 area tonight... (ask my cohort in crime, Raczekfx if he's going short on GBPJPY tonight during Asia...) But I plan to hold this thing (hopefully) for awhile.
I feel it's a good probability that we'll see a nice 750-800 pip run on GBPJPY (230-232)...
Mr. Trend