Have you considered that posting your analysis in a thread entitled "Trump's surprise visit to Korea" affects the number of readers. Perhaps you could change it to something a tad more apposite; then we'd know what to look out for
Ageed - done as suggested, should probably ask someone to move this to the trading journal thread.Have you considered that posting your analysis in a thread entitled "Trump's surprise visit to Korea" affects the number of readers. Perhaps you could change it to something a tad more apposite; then we'd know what to look out for
Ands its Sunday again folks - the chart analysis commences.
GBPJPY nice structure for a pending developing - a 5 wave motion down on the 4hr in calling for an ABC correction.
You can see I have a pending buy set on the break of the purple trendlines on RSI and chart on the 4hr.
I am expecting this to respect the downward trend line in purple on the chart but feel this would make a nice 2:1R trade.
On the daily, a nice break of the purple trendline and RSI might make a nice little trade.. but only short term, the bearish trend continues here. View attachment 266017 View attachment 266018
Sam, the rally from the bottom on 4H looks corrective (a 3-wave type) which means it will be fully retraced sooner or later
OK, so 3-wave rally up finished. Now its doing a downwave - will it be a 3 or a 5? The divergence being built up on Macd might offer a clue. There could be a C-wave rally aborning that could go for the trendline to kiss it or blast it. If so, its length will be minimum 61.8%. I would not be too shcoked if the rally if any heads to the 200-day. Just my 2 cents. The overall SHORT continues unabated however.
View attachment 267021
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