I still think it is going down to because it is in the 5th wawve which should be down. See the links below that I have been following with great interest in case your interested. Also, if you had read anything about gartley it is forming a nice bearish gartley butterfly pattern
. Of course the trick is using a large enough stop loss and having the patience to wait it out for the move. i had one trade last week that went 70 pip against me just to u-turn and allowed me to make abou 90 pips. I like to have as many things confirming the trend as possible instead of just relying on a system.
Daily GBP/JPY analysis @ Forex Factory
Low Risk, High Reward Trading Experiment - Page 209 @ Forex Factory
Quote:
Originally Posted by n_aftab
I should have done the same  , still i do think the pair is still heavily overbought, its gotta go down. |