Currency Pair: GBP.JPY Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Short
Live GBP.JPY updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity. Should my daily predicted direction be incorrect no trade opportunity will be generated.
Just a quick question on correlations, fine if you would rather not answer i see most of your posted trades are dollar long and GBP short, do you take multiple correlated trades as they are effectively the same trade (specificially the dollar long). And this would skew risk %'s
UnknownUnicorn180388
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@hpccrypto, Hi,
So in a morning i will break down which currency's are the strongest against which are the weakest, i will then identify the best trade opportunity, i very rarely expose my risk to two pairs with the same currency.
I hope the above helps.
Henry_Cleaver_Trading
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@tomhall, Cheers mate, more just trying to get some consensus on trade correlations/hedging
Profound_Ambition
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& 4 hour potential double bottom, im really just waiting to see how price opens
Profound_Ambition
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what do you think of this break of resistance retesting as new support?
UnknownUnicorn180388
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@eazywayout, For me support and resistance should be tested a minimum of 3 times prior to being confirmed.
ANGEL2333
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@tomhall I AM VERY EXITED ABOUT NEXT WEEK I HAVE THE SAME ESPECTATION FOR THIS PAIR WE WILL SEE....... THAKS FOR YOUR TIME AND ANALISYS
ANGEL2333
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A LITTLE RETRACEMENT AND THEN CONTINUATION
UnknownUnicorn180388
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@ANGEL2333, Great mind think alike :-)
Great work.
Mr_BANDI37_EDINBURGH
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@tomhall, Were is Your Tp ? Im selling from firday :)