Brief analysis on GBPJPY
- looking closely at this level for reversal patterns to show we are going back to the upside. Further continuation of the short-term down trend observed today would require a break of the red-trendline as shown. Looking to take small positions and, later, higher margin positions to maximise on the move in either direction. It is Friday as of this recording, so no trades to take place until confirmations seen on Monday.
I AM NOT RECOMMENDING ANYONE TO TAKE TRADES BASED ON THIS ANALYSIS. THIS VIDEO IS MERELY INTENDED AS PRACTICE FOR ANALYSING CHARTS AND HOPEFULLY TO GET SOME FEEDBACK FROM MORE KNOWLEDGABLE TRADERS. IF YOU TAKE TRADES BASED ON THIS VERY SHORT, UNSOPHISTICED ANALYSIS THEN PLEASE DO SO BASED ON YOUR OWN SUBSEQUENT RESEARCH AND TRADING STRATEGIES. DO NOT CRY IF YOU BLOW UP YOUR ACCOUNTS.