microtrends
Long

GBPJPY Long - open range signal long

FX:GBPJPY   British Pound / Japanese Yen
131 1 0
GBPJPY             Long - open range signal long - is the green up triangle on the far right of the chart.

This might be a sideways consolidation with a further breakdown- if we cannot can gain ground back above current resistance around 170.70

Whatever happens in the future - currently the system is long... until its short. a red down triangle will appear in that case.

Note the daily range expanded to 150% before reversing and the reversal was the equivalent of a 100% range move... so lots of participation or ATR in the GBP pairs... but will they simply tail off from here?
The weekly and daily ranges are currently best for
GBPNZD            
GBPAUD            
GBPCAD            
EURNZD            
GBPAUD            
GBPJPY            

from last look - and so we can expect more action/ range expansion to come this week...
So this trade might be a nice gap filler kind of day/week....

These indicators are available in Charts > Indicators > Market Place Add-ons > MicroTrends
more details of the indicators can be found here: http://www.indicatorfactory.com/tradingview-indicators/


When it's easy it's easy... this signal was at the right time and we went 300 ticks on that one... nice trade as the average weekly ATR is only around 250..
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