Great call, what’s your target?
So I closed the trade at 38 pips profit and I surely could have gotten a few more. Actually no reason to have left the trade other than it’s hitting pretty hard resistance. It’s a nice little channel that’s formed on this pair.
Thanks again
J
Please don’t follow. My system is still quite a bit short of accuracy. It can only be used as a reference.
I appreciate your concern. I have no idea what your system is or how it works. I independently verified your suggestion to buy. I immediately opened a 4 hour chart and put on some trend lines and saw for myself that price was coming to the bottom of a channel as well as a wedge between a few trend lines.
J
Good.
My system is to look for synchronized moves in the same group of forex
and a smooth match in the direction of the two groups of forex.
Like right now, GBPX is rising and JPYX is falling, so buy GBPJPY.
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Buying GBPJPY is still the optimal strategy at the moment, with a target of 194. Currently around 188.6.
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Today, GBPJPY could fall to near 187，，
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It broke a strong lower trend line on the 4 hour time frame last night but then came right back up. I was thinking the same thing you are today if that trend line is broken. I really didn’t see support below it but something pushed it back up. The same thing is true on the daily.
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Thanks. I’m canceling my downside expectations as well.
JPYX will continue to fall.
This is the Trend Line I had on the daily chart as of last night!
I would agree with you but this one has been strange. I caught the down move last night and we broke trend lines on the 4 hour and daily charts, I caught 60 pips exactly. But we have almost come right back to that strong support/resistance area. I am not sure what it’s going to take to end this back and forth.
J
JPYX will continue to fall.
JPY has a little wave up. meanwhile , AUD will fall.
Buy USDJPY for a short swing;
sell JPYX is good,
NOW buy audchf is better. @0.57676
SL。。。。。。。。。。。。。。。。。。。。。。。。。。。。。。。。。
JPYX may rise…
sell GBPJPY…