FX:GBPJPY   British Pound/Japanese Yen
149 4 3
The late retail sales news made the price retest the upwards trend line . Now is time to go SHORT
Hello Cambista. You're analysis is clear and well defined. However, I believe its still too early to go short, unless you are scalping. There is still juice left in this rally. I am keeping a possible eye out to short as high as 140, though it could be sooner at 137ish. GL trading.
Cambista PRO Pivot_Panther
@Pivot_Panther, Hi. Thanks for your nice words. About the trade...I hope you are wrong...because I am allready selling.. ;-)
@Pivot_Panther Also note that price struggle to reach the resistence at 136.36. And that is a lower high (at least in 1H chart)
Hello again. Thanks for allowing me to participate in your discussion. Just trying to help and not interrupt. Regarding your analysis on the resistance. I would regard this as normal, because it paused on a Daily pivot. Next the lower high is actually a higher low on your 6om chart (17 Nov at 0100 hrs). This could also mean that if the uptrend is moving into place, this would confirm the new uptrend (if you were to believe there is one occurring, like I do). Bottom line: I am looking at buying the dips now. GL trading.
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