My analysis for GJ.
We Saw a Peak formation form Last week after 3 levels of rise. We saw a move up that failed to break the Peak formation high, so I belive we are currently in Level 2 in the bearish cycle.
I think we will see a nice drop down to at least the 132.50 area before seeing any significant rise. Once we get down to that level I will be looking for possible entries to go long, depending on what happens at that level.
We Saw a Peak formation form Last week after 3 levels of rise. We saw a move up that failed to break the Peak formation high, so I belive we are currently in Level 2 in the bearish cycle.
I think we will see a nice drop down to at least the 132.50 area before seeing any significant rise. Once we get down to that level I will be looking for possible entries to go long, depending on what happens at that level.
Comment:
We are now Over a hundred pips in profit. I will now be moving my stops to break even.
Trade active:
I re entered yesterday 142.95. We should see a huge drop over the coming days/weeks