GBPJPY - Going short or not?

Good evening ladies and gentlemen

I hope you all had a profit filled day in the market and if not then atleast a day of progression and learning!

Today was a day riddled with fundamentals so I hope you all traded with caution. As a reminder, standing aside is also a position!

So our girl for the week is the GBPJPY and lets see how she progressed today. Yesterday we had some interesting events on several time frames. The 123886 did emerge by the end of the day on the daily with yesterday's bar finishing on a doji. I was anticipating maybe a bigger move today but looking back over the smaller time frames at the end of today, the move may happen at sometime in the near future. Price spent most of today oscillating between 147 and 149. Today's bar may again be a doji.

However, as mentioned above the 1hr and 4hr chart look very interesting. On the 1hr, the divergence from yesterday, coupled with a 123786 and the RN and several indecision candles might prove to be the catalyst for the journey short! Additionally, is RSI or stochastics confirming anything? Can we see the same on the 4hr?




As a caution, looking at the weekly and monthly chart what direction would you say the current trend is in? Could this ultimately have a say in what happens? Would we instead see a break of the 150 mark. I will leave it to you to do your own analysis!

Alright Rich. Utd are indeed looking strong. The Double looks like a strong possibility now!

Sorry mate completely forgot about putting up my own riddle yesterday. I racked my brain for ages trying to think of your riddle and that was the best I came out with!! Not such a bad guess after all!! haha

The answer to your riddle is one of my all time favourite films! Back to the Future! Unless it is also in another film??!! What a classic!

I like where you have taken this so I am going to jump on the band wagon. Which film is this from:

You've got to ask yourself one question: 'Do I feel lucky?' Well, do ya, punk?

Till Tomorrow

Abundance is your Birth Right

Zaheer Anwari