Trade #1
I am doing these analysis for my solely record.
I have been studying very hard to improve my consistency and one of the techniques are to record your ideas and thoughts so you can compare in the future to see if you succeeded.
GBP/JPY #1
Price has broken a very strong resistance. 14/09/2017
It went to 152.800 and then came back to retest the area 147.400. 06/10/2017.
Price has moved up again and it seems that will retest one more time the support 147.400 before go up to at least 152.500 and if breaks above 153 we will aim 163+- where it is the target for wave 3.
However, prices are still shy and it is kind of forming a FLAG and if breaks that flag line we will go to 50% retracement or even 61%.
Patience is key in this game.
I am long in this pair since 05/10/2017 - Stop loss placed at 144.900.
I have buy limits at 146.294 which is 50%.
144.500 is 61% retracement.
Stop loss for the second trade ( buy limit ) is at 144.00
I am doing these analysis for my solely record.
I have been studying very hard to improve my consistency and one of the techniques are to record your ideas and thoughts so you can compare in the future to see if you succeeded.
GBP/JPY #1
Price has broken a very strong resistance. 14/09/2017
It went to 152.800 and then came back to retest the area 147.400. 06/10/2017.
Price has moved up again and it seems that will retest one more time the support 147.400 before go up to at least 152.500 and if breaks above 153 we will aim 163+- where it is the target for wave 3.
However, prices are still shy and it is kind of forming a FLAG and if breaks that flag line we will go to 50% retracement or even 61%.
Patience is key in this game.
I am long in this pair since 05/10/2017 - Stop loss placed at 144.900.
I have buy limits at 146.294 which is 50%.
144.500 is 61% retracement.
Stop loss for the second trade ( buy limit ) is at 144.00