MY THOUGHT'S ON GBPJPY
WHEN I TRADE, I TRADE STRAIGHT TECHNICAL'S, NO FUNDAMENTALS. I BELIEVE FUNDAMENTALS DO PLAY A MAJOR PART IN TRADING BUT THE WAY I TRADE I DON'T REALLY LIKE TO GET TO MIXED UP IN WITH FUNDAMENTALS DOESN'T MEAN I DON'T TAKE NOTE OF IT. JUST PREFER TECHNICAL'S, I DON'T USE ANY INDICATORS ASWELL IF I DO USE INDICATORS IT IS THE MOVING AVERAGE BUT THAT IS ON MY MT4 ACCOUNT.
BIAS : SHORT
DESCRIPTION: I'M SHORT ON THIS PAIR FOR SEVERAL REASONS. WE'VE BEEN IN AN UPTREND SINCE BEGINNING OF LAST MONTH, WHICH I DID CATCH A FEW PIPS OFF, BUT SINCE LAST WEEK PRICE ACTION DID BREAK OUT OUR UPTREND AND HAS BEEN HOVERING AROUND OUR RESISTANCE LEVEL @150.600 WHERE WE HAVE BEEN CAUGHT IN A SYMMETRICAL TRIANGLE AND WAS WAITING FOR A BREAKOUT TO EITHER UPSIDE OR DOWNSIDE. TODAY WE BROKE OUT THE TRIANGLE AND GOT A RETEST OF THE TRIANGLE THAT IS WERE I ENTERED TO GO SHORT.
OUR NEXT DESTINATION SHOULD BE OUR SUPPORT @147.000. WHERE WE WOULD BE BANKING JUST OVER 300 PIPS.
GOOD LUCK TRADING.
BIAS : SHORT
DESCRIPTION: I'M SHORT ON THIS PAIR FOR SEVERAL REASONS. WE'VE BEEN IN AN UPTREND SINCE BEGINNING OF LAST MONTH, WHICH I DID CATCH A FEW PIPS OFF, BUT SINCE LAST WEEK PRICE ACTION DID BREAK OUT OUR UPTREND AND HAS BEEN HOVERING AROUND OUR RESISTANCE LEVEL @150.600 WHERE WE HAVE BEEN CAUGHT IN A SYMMETRICAL TRIANGLE AND WAS WAITING FOR A BREAKOUT TO EITHER UPSIDE OR DOWNSIDE. TODAY WE BROKE OUT THE TRIANGLE AND GOT A RETEST OF THE TRIANGLE THAT IS WERE I ENTERED TO GO SHORT.
OUR NEXT DESTINATION SHOULD BE OUR SUPPORT @147.000. WHERE WE WOULD BE BANKING JUST OVER 300 PIPS.
GOOD LUCK TRADING.
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