This might be the time that GBPJPY starts into a Sell trend. Let's look at past price action. Each vertical line is color coded to match with the other chart. 1h on top, 4h on bottom.
You can see the turn around in both charts in the past. The green line was a bit of an iffy call (in retrospect) but at the very least that one was good for 100 pips.
Pay attention to the 1h here. We can see that the lagging indicator has broken through the cloud, a cloud cross over has happened, lagging has cleared previous price and price is below the cloud.
We're a few days out from getting any sort of confirmation on the 4h chart. However, if we get that this week, we could be in for a nice sell on this pair. It's a wait and see game at this point.
FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.
I am not a financial adviser.
I am not a commodity trading adviser.
I am not offering any advice to you as to how you might trade or invest your money.
Charts and analysis are a mixture of my own thoughts, along with input from various sources. TRADE AT YOUR OWN RISK. I AM NOT RESPONSIBLE FOR YOUR TRADING EXPERIENCE. You bear the responsibility to analyze all charts on your own, and make your own opinion before placing a trade.
You can see the turn around in both charts in the past. The green line was a bit of an iffy call (in retrospect) but at the very least that one was good for 100 pips.
Pay attention to the 1h here. We can see that the lagging indicator has broken through the cloud, a cloud cross over has happened, lagging has cleared previous price and price is below the cloud.
We're a few days out from getting any sort of confirmation on the 4h chart. However, if we get that this week, we could be in for a nice sell on this pair. It's a wait and see game at this point.
FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.
I am not a financial adviser.
I am not a commodity trading adviser.
I am not offering any advice to you as to how you might trade or invest your money.
Charts and analysis are a mixture of my own thoughts, along with input from various sources. TRADE AT YOUR OWN RISK. I AM NOT RESPONSIBLE FOR YOUR TRADING EXPERIENCE. You bear the responsibility to analyze all charts on your own, and make your own opinion before placing a trade.
I am not a financial adviser.
I am not a commodity trading adviser.
I am not offering any advice to you as to how you might trade or invest your money.
Charts and analysis are a mixture of my own thoughts, along with input from various sources. TRADE AT YOUR OWN RISK. I AM NOT RESPONSIBLE FOR YOUR TRADING EXPERIENCE. You bear the responsibility to analyze all charts on your own, and make your own opinion before placing a trade.