If price drop below red line, expect a bigger drop
Pay Attention To yellow zone resistance
For the followers who look at my ideas for more than 1year you may know that i am insisting on Longing gold in long run, and it will create a new high price, more than 1900. Let us try to find a price to officially long it and hold as a long term investment. The first potential level is around 1200 to 1206 area.
We longed usdjpy in previous idea around yellow zone. If price comes to retest yellow zone, still can try long.
Trade Follows The Channel. If moves within channel, short from ceiling and long from bottom. if break either side of channel, then follow the bullish or bearish.
Pay attention to the lot size if you trade short in audusd as the SL is relatively big.
If USDJPY can be support by the yellow zone,we can long. Otherwise, follow the short.
Check the price action on the yellow zone & Blue trendline. No matter break up or got resistance, follow the price action at that level.
Pay attention to the 1.242 level for GBPUSD as this will determine whether GBPUSD will go higher to above 1.28 or lower to 1.2. This may happen in next week.