Closed all of my longs (300+) because my perception is changing. I was believing that the Bulls could take price to 150.00. Price grinded for days to reach 148.00 and now signs are building to a lower push than I had expected (145.25). I have thoughts that price may aim for the Weekly Trendline that hits swing lows in Nov 2017, Feb 2018, and May 2018. Last week's Weekly candlestick hammer matches what is forming today on Friday. Perfectly inverted. Can't stay married to the GBP/JPY always, because it has a mind of its own.
Conclusion: I am now fully vested in shorts from 147.45 with target of 142.25 (weekly trendline extension from May 2018 and Monthly S1 pivot).
Conclusion: I am now fully vested in shorts from 147.45 with target of 142.25 (weekly trendline extension from May 2018 and Monthly S1 pivot).
Trade active:
Closed all of my longs (300+) because my perception is changing. I was believing that the Bulls could take price to 150.00. Price grinded for days to reach 148.00 and now signs are building to a lower push than I had expected (145.25). I have thoughts that price may aim for the Weekly Trendline that hits swing lows in Nov 2017, Feb 2018, and May 2018. Last week's Weekly candlestick hammer matches what is forming today on Friday. Perfectly inverted. Can't stay married to the GBP/JPY always, because it has a mind of its own.
Conclusion: I am now fully vested in shorts from 147.45 with target of 142.25 (weekly trendline extension from May 2018 and Monthly S1 pivot).
Conclusion: I am now fully vested in shorts from 147.45 with target of 142.25 (weekly trendline extension from May 2018 and Monthly S1 pivot).
Trade closed manually:
Before the close on Friday, I closed my short trades. I decided money in the bank was better than the uncertainty of the upcoming Trump-Kim Summit. It was a great week with over 400 pips.
On Sunday night, when everything activates, and with a fresh mind, I'll re-assess. The last two Weekly CP's have been untouched. This uncertainty only leads me to believe that a strong move is coming and it's too early to call which direction. I thought I was certain, but I needed the weekend to clear the mind.
On Sunday night, when everything activates, and with a fresh mind, I'll re-assess. The last two Weekly CP's have been untouched. This uncertainty only leads me to believe that a strong move is coming and it's too early to call which direction. I thought I was certain, but I needed the weekend to clear the mind.