Just adding on to what Bob had shown for GBP/JPY monthly chart.
I do see a new bull run on the monthly trend as long we close the month above the 138 level. There is PLENTY of potential upside price movement as show from prior price history.
New economic fundamentals has been implemented that have a lifespan of 2 years so if we apply that specific time-frame we are looking for a target area of 193 in 2015 for GBP/JPY pair.
Trading strategy if above scenario stays true:
Buy bias. Look for strong buys on the 4 hour TF on WS2 - WMS2 - WS1 - WP area's. I would leave a portion of my buy positions left open when taken as WS2 and WMS2 levels long-term(until 2015).
Plenty of opportunity for drops in price action so watch for those and use them to accumulate new and potentially profitable positions.
Just thinking out loud...
monthlys *_*
i must be a pensioner to trade that.(but probably die before i get my payout).
(i don't mean to offend any one on pension.)
meanwhile...USD making a comeback against GBPUSD/EURUSD.
kwanann wrote:I believe that is the breakout trade from last week high
o. ok. cool. thanks!
i'm long too but from other systems.
haha was long since last week. missed the 2nd leg. trading ala CJ style
Good luck with your trades!
im long this week having missed the whole boat last week ala unlucky forex trader style.
i get scared about missing a count on the leg. hence why i reverted back to Bob's 10.4.
or rather i got burnnned for missing a count. the weakness twas was mine.
kwanann wrote:I believe that is the breakout trade from last week high
o. ok. cool. thanks!
i'm long too but from other systems.
haha was long since last week. missed the 2nd leg. trading ala CJ style
Good luck with your trades!
im long this week having missed the whole boat last week ala unlucky forex trader style.
i get scared about missing a count on the leg. hence why i reverted back to Bob's 10.4.
or rather i got burnnned for missing a count. the weakness twas was mine.
Hey fellow singaporean!
No worries, you aint too late to the party, this week should be an exciting week for JPY, no idea how far it will go, but i sure as hell gonna enjoy the ride
kwanann wrote:I believe that is the breakout trade from last week high
o. ok. cool. thanks!
i'm long too but from other systems.
haha was long since last week. missed the 2nd leg. trading ala CJ style
Good luck with your trades!
im long this week having missed the whole boat last week ala unlucky forex trader style.
i get scared about missing a count on the leg. hence why i reverted back to Bob's 10.4.
or rather i got burnnned for missing a count. the weakness twas was mine.
Hey fellow singaporean!
No worries, you aint too late to the party, this week should be an exciting week for JPY, no idea how far it will go, but i sure as hell gonna enjoy the ride
Haha. I hate our timezone. Although its not as bad as those on EST. The Brits have it the best.
We'll see how it goes if more people are still shorting GBPJPY then we have a longer ride to go.
