I agree. I like to get in on the action either way. A move to the 150's that just falls short of a significant high would still fit into everything.
Nevertheless, that which I mention is true.
One exception is about Jan. 8 of last year - yikes, the similarity in dates! GBPJPY sort of bottomed and then was the race to 161, which was a 50% retrace of the big fall from 211. If a similar scenario was to play out here, I would put a target tomorrow (and the falling days) at 150.80 (i.e. midpoint between 161 and 139).
Edit: Hey, what am I saying? Target of 150.80 (base of 139) to 153.00 (base of 146).
NM
Nevertheless, that which I mention is true.
One exception is about Jan. 8 of last year - yikes, the similarity in dates! GBPJPY sort of bottomed and then was the race to 161, which was a 50% retrace of the big fall from 211. If a similar scenario was to play out here, I would put a target tomorrow (and the falling days) at 150.80 (i.e. midpoint between 161 and 139).
Edit: Hey, what am I saying? Target of 150.80 (base of 139) to 153.00 (base of 146).
NM
DislikedTrue, but lets remember these these take time to unfold (generally much more than we feel like they will). We could see this "complacent" type of PA up to the mid 150s or even low 160s and then see this big move, or as some like to say "KABOOM" to the downside.
A few of us are definitely anticipating this and waiting for it to unfold.Ignored