Mr. Chia,
What I wrote was
"I have noticed the first sign of the end of a the current cycle for both pairs and I have already have my "line in the sand' similar to the one in June last year. The close of this month's candle will confirm the top for both pairs"
138-142.50. On the other hand the monthly and weekly consolidation for EURJPY is between 118-128."
The close of this month's candle will confirm this first signal I saw. A breakout within the consolidation range is a further where the market is going. The most important information however is that I have establish about 1000 pips consolidation range each for GBPJPY and EURJPY between 138-148 and 118-128. A break above the 148 and 128 is a continuation of the bullish run and a break below 138 and 118 confirms the change in trend. In essence, I established a 1000 pips concrete zone for both pairs and what I need to do is to follow one weekly candle at a time. Read how I trade concrete zone to understand my mindset in this scenario.
If you establish a range (concrete zone) and trade in the direction of the weekly candle, you will be on the right side of the market 99% of the time.
This is how to look at the market.
What I wrote was
"I have noticed the first sign of the end of a the current cycle for both pairs and I have already have my "line in the sand' similar to the one in June last year. The close of this month's candle will confirm the top for both pairs"
138-142.50. On the other hand the monthly and weekly consolidation for EURJPY is between 118-128."
The close of this month's candle will confirm this first signal I saw. A breakout within the consolidation range is a further where the market is going. The most important information however is that I have establish about 1000 pips consolidation range each for GBPJPY and EURJPY between 138-148 and 118-128. A break above the 148 and 128 is a continuation of the bullish run and a break below 138 and 118 confirms the change in trend. In essence, I established a 1000 pips concrete zone for both pairs and what I need to do is to follow one weekly candle at a time. Read how I trade concrete zone to understand my mindset in this scenario.
If you establish a range (concrete zone) and trade in the direction of the weekly candle, you will be on the right side of the market 99% of the time.
This is how to look at the market.
DislikedArticulate, GBPJPY and EURJPY I agree will go down, in my opinion, and chfjpy cadjpy will also go down, and for NZDJPY and AUDJPY, I'm still waiting for one piece weekly candle if it wants to make sure he was down,what do you think?tq Jesus is the LOrdIgnored