I MISSED THE START OF THE 60 PIP DROP THAT'S GOING ON RIGHT NOW SO NOW THIS IS WHERE PATIENCE PAYS...AS YOU SEE THERE HAS BEEN A TRIPLE BOTTOM ALREADY IN WHICH GJ HASN'T BEEN THIS LOW SINCE NOVEMBER 9, 2016 SO YOU WOULD THINK ITS TIME TO TURN AND RUN UP
LONG LOOK: GBPJPY IS DEFINITELY BEARISH RIGHT NOW BUT THE PRICE HAS DROPPED HARD WITHIN LAST 6 HOURS IN WHICH THE MACD DOES NOT CORRELATE WITH IT AS THE MACD IS NOT DROPPING AS HAD AS THE PRICE WHICH INDICATE TO ME POSSIBLE MACD DIVERGENCE. I REALLY LIKE DIVERGENCE WHEN IT COMES TO THE MACD ESPECIALLY WHEN ITS CLOSE TO THE ZERO LINE. SO I'M LOOKING FOR PRICE TO POSSIBLY MAKE A 4TH BOTTOM AND THE MACD MAKE A HIGHER LOW AND THEN TURN UP.
SHORT LOOK: THE GRAY SHADED AREAS I MARKED UP ARE THE MAIN ZONE THE PRICE IS IN AND THERE IS ALSO A GENERAL OUTLOOK THAT ON THE 4TH RETEST ITS USUALLY A BREAKTHROUGH, SO SINCE WE ALREADY HAVE A TRIPLE BOTTOM GOING FOR THE 4TH AND THERE IS PLENTY BEARISH MOMENTUM BEHIND IT THEN IT COULD BE POSSIBLE THAT GJ COULD BREAK THE LOWER ZONE AND THEN RETEST THE ZONE AS RESISTANCE AND THEN DROP HARD TO 126'S WHICH IS ALSO THE VERY BOTTOM OF THE LOWS OF 2016. SINCE WE ARE IN THE MIDDLE OF THE ZONE I'M NOT LOOKING TO TRADE UNTIL IT GETS TO THIS LOWER ZONE. I WILL ALSO LOOK AT LOWER TIME FRAMES BECAUSE IT MAY NOT DO A QUADRUPLE BOTTOM, IT MAY IN FACT MAKE A HIGHER LOW AND THEN RUN UP.
LONG LOOK: GBPJPY IS DEFINITELY BEARISH RIGHT NOW BUT THE PRICE HAS DROPPED HARD WITHIN LAST 6 HOURS IN WHICH THE MACD DOES NOT CORRELATE WITH IT AS THE MACD IS NOT DROPPING AS HAD AS THE PRICE WHICH INDICATE TO ME POSSIBLE MACD DIVERGENCE. I REALLY LIKE DIVERGENCE WHEN IT COMES TO THE MACD ESPECIALLY WHEN ITS CLOSE TO THE ZERO LINE. SO I'M LOOKING FOR PRICE TO POSSIBLY MAKE A 4TH BOTTOM AND THE MACD MAKE A HIGHER LOW AND THEN TURN UP.
SHORT LOOK: THE GRAY SHADED AREAS I MARKED UP ARE THE MAIN ZONE THE PRICE IS IN AND THERE IS ALSO A GENERAL OUTLOOK THAT ON THE 4TH RETEST ITS USUALLY A BREAKTHROUGH, SO SINCE WE ALREADY HAVE A TRIPLE BOTTOM GOING FOR THE 4TH AND THERE IS PLENTY BEARISH MOMENTUM BEHIND IT THEN IT COULD BE POSSIBLE THAT GJ COULD BREAK THE LOWER ZONE AND THEN RETEST THE ZONE AS RESISTANCE AND THEN DROP HARD TO 126'S WHICH IS ALSO THE VERY BOTTOM OF THE LOWS OF 2016. SINCE WE ARE IN THE MIDDLE OF THE ZONE I'M NOT LOOKING TO TRADE UNTIL IT GETS TO THIS LOWER ZONE. I WILL ALSO LOOK AT LOWER TIME FRAMES BECAUSE IT MAY NOT DO A QUADRUPLE BOTTOM, IT MAY IN FACT MAKE A HIGHER LOW AND THEN RUN UP.