fx8000 wrote:On Monday, I will be concentrating on GBPJPY and EURJPY. The Aussie and Kiwi dollar are trading well below WS1, below my comfort zone for shorts, and GU and EU are hanging around the 240ma, which can be tricky to trade even though I think the bias is down.
The yen pairs are ranging at the moment, so waiting for retracement up to resistance and three or more indicators bunching up at the top, for a sell.
I know some of you like to trade the H1 time frame, so I am going to try it next week and see. Pending order will be resistance_lo, sl = res_hi or one pivot above plus 5 pips, tp = next pivot.
Not using H1 CSS for entry now, but may exit if the H1CSS changes colour.
Only using WP and WMP on the chart, but may overlay with fib levels for scaling in. I have observed that when price breaks a fib level, it tends to travel to the next fib level.
Three shorts for GJ this am, +130 pips. One short still open. 10.5 rules.
AUDCHF short, +28 pips.
If you are patient, there will be always be opportunities.