OANDA:GBPJPY   British Pound / Japanese Yen
GBPJPY Looks like its going into a smaller and smaller range.

I prefer long positions in this pair.

Comments

Hiya, I saw you have some nice chart analysis However I don't believe in trendline. I see them as big gamble but it works for you keep going. Lastly, I have a good trading year.
Reply
@Skrrace, Thanks for your comment, To be honest I would say this is more of a zone or a pattern where the price is going into a smaller and smaller range. Normally when this happens you will see a break and either have a big move up or down, Like with triangle and wedge patterns. I prefer long positions but must have a breakout to the upside and this did not happen. I hope you understand what my idea was. Kind regards.
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Skrrace PeterHedger3
@PeterHedger3, I totally understand it. It just I see it more of a gamble even tho following trend is safer. Have you ever seen price moving up and done a zigzag on a trendline??
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@Skrrace you mean like a trendline support that has held and trading off of that as support. I prefer horizontal levels most of the time as they are clear and simple.
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Skrrace PeterHedger3
@PeterHedger3, Same I agree with you nice :) Anyway keep up the good work
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@Skrrace Thank you.
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