Daily GJ Technical Analysis

chart h1 - 10 am Malaysia

Price is moving slowly upwards, but without any strong momentum. Will watch closely whether the price could break the fib 50% level of yesterday's hi-lo or not.

Should the price rebound downwards from that level, I might consider adding a sell position with a tight stop loss.

However, if the price stays below fib 61.8% level, it is usually an indication that the bears are very much in control.

Let's see how the market will play it out. :D

UPDATE:
 12.15 pm - as expected, price bounced off fib 50% level...
            let's see whether the beast will continue 
            southwards or not...
       
   2.00 pm - the bulls are not done yet...
             will stay out first....
   3.38 pm - see how the beast loves the fib levels
             went short a little bit late as I was away
             from chart
             stop loss at 137.97 (63 pips risk)
             let's see whether London market would push the baby
             down or not
        
   3.58 pm - stopped out 
             lost 63 pips :))
   4.40 pm - decided to close my previous sell at +210
             stay out for the time being
   5.30 pm - went short again at 137.87
             as price failed to break fib 38.2%
             already +30; SL rest at +1
             let's see how low the baby will go...
       
  7.45 pm - almost gave up on the beast 
            price was bouncing up and down
            my last attempt to sell at 137.69 at last succeeded 
            now +81