Ciba
Long

TL slightly broken (Consolidating or Pausing on this LONG)

FX:GBPJPY   British Pound/Japanese Yen
85 0 3
Seems the run up to the poor GBP data (it didn't seem too bad to me, but then who'm I to say) on Construction PMI (if the market believed it was bad, we would definitely had a stronger reversal) gave this long LONG a significant pause. The difference between yesterday's pause and today's pause is the tighter grouping of the candle signals - at least what it seems to me.

Two choices:

1) HOLD LONG on the continued march to a REVISED LONG target of 174.5+ (Danske moved their target up into the what seems to be a channel)
2) Or TAKE PROFIT and SHORT into the CONSOLIDATING TRIANGLE

I am going to HOLD LONG and wait until a more significant ENGULFING CANDLE appears or wait until some neck threshold or a double top forms on the 15M or 1H. Probably will confirm a double top with the MACD and RSI .

HOLDING PATTERN LONG: more volatility around

1) GBP Services PMI comes out PST tonight.
2) USD unemployment tomorrow morning early PST
3) USD NFP Friday
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out