Remember the trade I placed on GBP/JPY at the beginning of the month, precisely on the 10th . Then, I made a 1 month estimation for the move to get to completion.
Today marks half the time, and the trade is still on.
It currently hit a major support and will consolidate for sometime before continuing with the move to the bottom.
You could still find an entry...
DAILY TF - A strong move to the downside observed haven broken the support line that held for months'
4HR TF - PRICE ACTION has tested the support line this time and broke it, I waited for the impulse correction to be able to fade the breakout,and now it has currently resumed the downtrend.
I just put in a Sell order, I will stay with it till another major...
The move to the the Lower main Support is 80% done, currently running risk free with a trailing stop taking in half my profits with each move. Good day!
After about 1 week of irregullar movement, current price action on the fibre has finaly revealed itself to not be in line with the move to the top like the last two. Rather, It turned around twice at a strong Resistance Zone that was tested during the build up, this shows that the bulls are already losing momentum and so price action is not in a Channel as...
After a nice swift move to the upside, Price action bounced back to the start of the move on encountering a line of resistance.
But thanks to my trailing loss, I was able to make 850+ pips in profit as a compensation for the time wated, lol. Now back to monitoring for the main move to the top of the channel once again.
The current channel was created around the end of july, I waited till mid august to follow price action to the topside for a nice 2000+ points of profit while maintaining proper R/R ratio and Money management. After that and retracement to support,this time I missed my entry point for a nice move to the topside again; I was pained but left it nevertheless.
And...
Since Febuary 2018, GJ has been in a divergent Channel. Price action has rejected the top of the channel(Resistance) once again and is done with a reversal and currently heading downwards. From what I can tell, the trend is also getting weaker as it is taking more time to reach tops and bottoms so I'm not expecting price action to go all the way down; but if it...
