Monthly chart: Monthly expanding triangle bullish breakout, possible rally continuation ?
Weekly Chart: Bullish Channel which so far has been holding on.
Daily Chart: Expanding triangle bullish breakout
4HR Chart: Bullish Channel which so far has been holding on
1HR Chart: Bearish Downward channel with a recent bullish breakout and retest
So far, I would be looking for long positions overall.
Thoughts ?
Monthly Chart
Weekly Chart
Daily Chart
4HR Chart
1HR Chart
I agree with the conclusion though I don’t do pattern analysis as per your post. I am long this pair off the daily chart and aim to hold on if bullish performance continues until probably Wednesday’s close, then take profits and look for another re-entry.
From my round-up sheet only GBP/JPY is more bullish and possibly AUD/JPY.
I agree that there are a lot of traders who get benefitted by viewing the same currency pair under different time frames. I tried doing it once but it didn’t work that well for me. Some traders say that I should sync the time frames. Later I moved to a single time frame and have been doing quite well. I don’t think I need to use different time frames any more.