GBP JPY update
Ok, looking at an alternative chart (daily), the item is currently in downwards sloping channel and mid-term a three0drive0to0the0bottom pattern can unveil.
Previous scenario with the 4hour chart I posted seems to be invalid. I calculated monthly Sup/Res Buy/Sell zones, they are as follows:
| 22288 |
| 22683 |
| |
| 23079 |
| 23201 |
| |
| 24236 |
| 24358 |
| |
| 24753 |
| 25149 |
Currently trading at 223.35 GBP JPY is nearing 222.88 range, which is the lowest border of the montly support area, so if that is broken GBP JPY will likely arrive at 214-216 area as indicated on the chart.
....elsewhere
SPOT GOLD
did retrace, as expected, in 772-776 area currently sits at 796, if you had longs since 7720776 good idea to close them and wait for further downside action this week. Longer term charts suggest further upside, however capped at 820 this month.
EUR USD
trade resulted in SL being hit for a total of -65 pips. I favor further downside, as apparently EUR USD it topping on daily charts, charts attached.
GBP USD
Based on my recommendations you could be LONG this item since good levels (levels in the PDF file), however trade was hypothetical and any potential profit won't count.
Trade setups
Since anyone can post charts and claim hypothetical results, I will try to print solid TP SL and buy sell levels evey week. Generally R:R ratio I target is 2:1 3:1 at least, so for every 50 pips I risk I try to target 100-150 pips in profit. My SL on EUR USD trade are most often 50 pips TP 100-150GBP SL is 75-100 pips TP is 150-300 pips range. for most trades. Gold trades SL is 5 TP is almost always 15-30 dollars.
PLEASE NOTE!
Trade setups are generated on Saturday/Sunday and are posted ONCE a week, I can review charts, post ammendments during the trading week.