GBPJPY analysis - possible move week Dec 8th



weekly and h4 charts at market close
falling three method at weekly chart??

a continuation pattern, which shows a temporary break in the trend of prices without causing a reversal. ... After this temporary break, the downward trend continues.

however, price might retrace to the confluence of H4 immediate trendline and weekly 38.2% fibo level (around 141.25) before continuing southwards
should price breaks the last week low (133.26), it might test 125.29
UPDATE:



chart h1 - 6.30 pm Malaysia
was away whole morning celebrating Eid with family
price went up to 140.74
decided to go short at 139.14 as the price bounced off 50% fibo level
already +41 and moved SL to +7

10.00 pm - my SL +7 was hit
however h4 candle closed as a bearish harami
went short again at 138.85, SL at 139.85 (100 pips risk)
11.00 pm - closed 1/2 position at+120
moved SL for the other 1/2 position to +7
now, i can go and sleep I-)

0 comments:

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.