I will looking for a BUY on GJ around the 134 area then i will keep it for a very long term trade because i can see this beautiful double bottom. -- My SL will be right under the 138 (BUY AREA) zone. The risk reward is really good on this trade!
pierre, i can see this happeneing, IF it breaks that monthly trendline, and i dont think its time for that yet. this may come true around wenesday. its at level 2 now, got another level of rise, then massive drop , then buy in your area around 133.9
jolicoeur342
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xxxJPY are really weak now, i said buy around 134 not before
Wave-Expert
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jolicoeur342
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i agree but overall xxxJPY are getting really weak if you take a look at others xxxJPY they broke some good bearrish trendline, mean that overall the trend of xxxJPY is now bullish so i wouldnt get on any sell for xxxJPY I will be chasing buy instead =)
Wave-Expert
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Best of luck mate !
jolicoeur342
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You too =)
Mhat
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Pierre, regarding the break of the up trend wouldn't it be a risk free trade to sell until let's say 134 ? 200 pips easy no ?
jolicoeur342
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you could sell but JPY are weak meaning that xxxJPY will probably go up, selling would be risky on xxxJPY
Mhat
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Hi Pierre thank you for your answer. What I don't get is as you are expecting to buy at 134, it implies that you expect it to decline to this level ? Am I right ?