Agent Orange
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GBP/JPY Trade
Using my Trend following strategy, here is the best trade Ive identified
Fundamental Data:
The GBP is expect to appreciate due to increasing expectations of a interest rate hike in the near / medium term ( this expectation may be tested this week with some important economic data being released - so be warned )
The Yen is weaker and not expected to gain any strength in the near term - despite Kuroda’s recent comments that the yen is near its long term lows
Technical
Weekly
On the Weekly Chart, the trend is definitely up. My interest is usually excited when the pair trade with the predominant trend (in this case up) and has its last 3 weekly candles going with the trend. On my chart the last 9 candle are green, therefore with the trendView attachment 20057
With the price still above all my MA (20, 50 and 200) and reaching the 80.9 fib level and holding, it looks set to break through with some positive economic data due out later today
Daily
Price is above all MA indicators and has passed though a resistance level hitting the 80.9 FibView attachment 20058
H4
Price is above all MA indicators and has passed though a resistance level hitting the 80.9 FibView attachment 20058
I have followed this trend for the past 5 weeks and made plenty of pips. Target for this trade is either the next resistance level at 195.325 or if not so brave the 100 Fib level on the Daily or H4 Charts. On my account I have brought again this week @ 192.750 targeting just under the 195.325 target. I have also put stop orders buying at just above the 80.9 and 100 fib levels of the H4 chart. (still targeting around 195.750) Daily range of this pair is around 160pips so all going well, should be out of trade by next week.
Trades closed not long after good Economic Data from BoE. Profit targets hit. Trade completed in 2 days
Using my Trend following strategy, here is the best trade Ive identified
Fundamental Data:
The GBP is expect to appreciate due to increasing expectations of a interest rate hike in the near / medium term ( this expectation may be tested this week with some important economic data being released - so be warned )
The Yen is weaker and not expected to gain any strength in the near term - despite Kuroda’s recent comments that the yen is near its long term lows
Technical
Weekly
On the Weekly Chart, the trend is definitely up. My interest is usually excited when the pair trade with the predominant trend (in this case up) and has its last 3 weekly candles going with the trend. On my chart the last 9 candle are green, therefore with the trendView attachment 20057
With the price still above all my MA (20, 50 and 200) and reaching the 80.9 fib level and holding, it looks set to break through with some positive economic data due out later today
Daily
Price is above all MA indicators and has passed though a resistance level hitting the 80.9 FibView attachment 20058
H4
Price is above all MA indicators and has passed though a resistance level hitting the 80.9 FibView attachment 20058
I have followed this trend for the past 5 weeks and made plenty of pips. Target for this trade is either the next resistance level at 195.325 or if not so brave the 100 Fib level on the Daily or H4 Charts. On my account I have brought again this week @ 192.750 targeting just under the 195.325 target. I have also put stop orders buying at just above the 80.9 and 100 fib levels of the H4 chart. (still targeting around 195.750) Daily range of this pair is around 160pips so all going well, should be out of trade by next week.
Trades closed not long after good Economic Data from BoE. Profit targets hit. Trade completed in 2 days
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