2waytrading
Short

Weekly Chart Signals Trend Slow Down n Potential Pull Back

FX:GBPJPY   British Pound / Japanese Yen
221 2 6
Never go against trend, but be a friend to it. The Pound was strong since June 2012 and any pull back was opportunity to buy, now it seems the trend slowing down or probably indicating the top is/and or within reached/reach respectively. From technical prospective, 40ema helps to draw a serious look at the trend and make some conclusions such as your view on trend, and other indicators. All trades we based on 40wema, 69% proved to be profitable so in this case. As you see BB is flattening, and price is about to attack 20mv which is another good indication that we may go lower next few weeks from now on top of that AO has been suggesting similar direction which adds more to TBFIB indicator which confirmed today that is the case. If u want some profitable chart analysis, follow us. Stay tuned!
I wouldn't sell right now. We are still in that range and the market is not conviced of a breakout yet. But if one has enough time and loss tolerance he can enter a position.
I still prefer to wait, personally. Nevertheless good idea and worth watching.
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I have been short GBPJPY but for different reasons.. 172.288 is where i'm getting out... Overall trend is still bullish.. so get some pips and wait till the uptrend resumes.
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