I’m looking at Forex daily charts, all of them are like one now GBPJPY, USDJPY, EURUSD, USDCHF etc, they all show some deep market retracement.
Is this a good retracement for entry in the direction of the prevailing long trend?
Tomorrow is Monday and I’m going to watch charts after the closing of the day. It might […]
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Filed under: GBP/JPY Forex Trading
Let’s summarize what we have got with GBP-JPY pair in Forex so far.
A. Major trend on daily and weekly charts is bearish.
B. Couple of weeks ago we have encountered a 0.618 Fibonacci retracement on daily charts where market has stopped one more time in attempt to go upwards.
C. Nice blue line on the pic above […]
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Filed under: GBP/JPY Forex Trading
Just a quick update.
Price failed to break 228.00 level mentioned earlier. Note, that I use only close price and ignore spikes. The highest Close price was 227.80 while the spike reached 228.27 (it probably took out many stops at that area…)
We saw that resistance at 228.00 area held and therefore formed a double top pattern.
It […]
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Filed under: GBP/JPY Forex Trading
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