The pound against the yen has previously failed to reach a good entry level, and the MCS, not being in excess of strength, has also not sent any signals; the MML in H4 has attracted the price and from here two scenarios open up:
1. Look for a new high in B1 to enter the 6-month short
2. Breaking down MML, price that is lost in the void, MCS that is neutralized and waiting for a new signal
Option 2 speaks for itself, if instead it were looking for a maximum in B1 we could take advantage of the half-yearly cycle for a fairly short trade since, on the annual we are already bullish from the beginning of January '22 for the second half of the cycle (A1).
1. Look for a new high in B1 to enter the 6-month short
2. Breaking down MML, price that is lost in the void, MCS that is neutralized and waiting for a new signal
Option 2 speaks for itself, if instead it were looking for a maximum in B1 we could take advantage of the half-yearly cycle for a fairly short trade since, on the annual we are already bullish from the beginning of January '22 for the second half of the cycle (A1).
TheCyclicalTrading.com