GBPJPY analysis - welcome back.......

wow... what a week.... <:-P
market really moved during the festive season
really enjoyed all the trades while celebrating Eid...
ok.. let's move to next week possible outlook... ;)
monthly chart - bearish two black crows; indicating bears are still in command
weekly chart - three inside down pattern; usually a bearish continuation indication
daily chart - bullish harami; however, any upward move should be limited to 50% monthly fibo (190.944)
furthermore, the market is not impressed with the US $700b bailout plan; read here

my strategy :
wait for the retracement to complete before going SHORT again
should the price pierced August low, we might reach 176.xx soon 

UPDATE: as of Monday 1 pm Malaysia, price dived to 180.689
around 580 pip from Friday close
already secured some pips...
let's see how low the baby will go...


Post a Comment

You are welcome to post comments. However, please do not use Anonymous as your ID. At least, put in your initials for easy reference in further conversations.