Recently i have been making good percentages day trending/ scalping. now i have a bigger account i want to focus on the more longer term trades. to do this, i think Wave theory is the best bet to understand the psychology more. Laying out wave theory can be difficult, but this looks straight forward... Will look ...
Todays session hit the psychological zone for the JPY. this could be a yearly turning point for the USDJPY. Moved back into trend zone, looking to go up. Now would be a good time to enter, or a low curve on the five minute chart
this is a test of risk sentiment in the markets. the USDJPY has been in a trend the past few days after an april down surge. if the USD turns down again it could turn downwards again. Will wait for confirmation.
Up 109.1, 110.000 then test major zone at 111.250
Down 107.680, 106.715 then major zone at 102.000
Set up for a H&S pattern for the GBPUSD. Generally H&S skewer of in one direction before going in trend direction. with brexit playing heavy on investors, it is probably this will break the 30 year resistance zone.