I love the movement of USDJPY in week 50, it moved quickly and completed the whole trend levels. USDJPY started with a W, moving upwards fast during the opening hours in week 50, and never looked back. Through week 50, it managed to create all the consolidation zones on the H1 and went on to create a reversal M on its level 3, and only moved away to form a level 1...
Week 50 sees the whole week in zone 1, with a full range of roughly 170 pips movement through Monday to Friday. I did a couple of long and short within this consolidation and fortunately, it is wide enough for day traders like to me net a profitable week by trading EURUSD, GBPUSD, USDJPY and, USDCHF.
The analysis points us towards a bull trend, even though the...
Week 49's analysis of GBPUSD pointed us towards a long with a level 3 zone and an identified W shape. However, in week 50, we see it fell 282 pips, I was in for long, and it wiped me off 10% of my account's equity. I got out on Monday and did some short-term trades in Tuesday and I finally long it on Wednesday. Together with other pairs, I managed to achieve...
