What a week.....
100pips up for grabs if you time it well ;)
Still holding gold and USD/JPY cashed in just shy of the take profit area of 113.000
Good week lets see what next week brings!
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.55.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=147.3.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
First trade for new project.
I will be looking to grow a £500 account to £5,000 in the next 4 weeks. I will be documenting my trades on here to look back on as a memory and to prove to anyone that it is possible.
After this first project is completed i will then increase the starting balance to £2,500 and grow it to £50,000.... this is just the ...
GBPJPY has melted all the way down to 140, which is a Major Support Level. I do believe a retracement is overdue. If the blue zone gets broken to the upside then I do see 142.50 and potentially 143.50 being met.
GJ - H4 time frame. Trend is bullish on weekly time frame so I'm trading a bullish pullback on smaller time frames. Bank of England is also expected to hike rates in November so fundamentally and technically GBP pairs are looking very bullish.
GBPJPY - A significantly large bullish candle broke out from our long term consolidation of this pair. I would expect a pullback towards to top highlighted area now to retest previous resistance which would now be acting as support. If we get this pullback I would look to go down to the smaller timeframes to look for an entry to go long
You can see over the year we have been trading between the two main support and resistance. From price action you can see this market is starting to lose momentum trying to break through the resistance barrier. Bearish candle sticks and short term 2 hourly trend line has been broken. Think its time the pound dropped!
let me know what you think!
Price has printed an indecision candle on resistance on the weekly and on the daily, potentially showing that the bulls have run out of steam
If price breaks below the daily indecision candle, I will go short targeting the previous resistance level.