GBPJPY long idea 4H after correction
The 0.618 retracement of the up impulse has appx. same level as the 1.272 extention of the first corrective downmove. this area gives me a high chance of reversal for the upside.
stoploss level must go at least 10 pips below the beginning of impulse (124.60 something).
very aggressive traders may watch for reversal candle at the given time and level and then place stopp below that candle.
good matter would be to wait for break out of the correction and a little flag down and then break of that flag but this needs patience! still the best way to do.
take profit somewhere around 152.00
my time projection vertical lines give me an additional clue on the "when" (timing) which is good thing to know.
this is not a trade call. you are responsible for everything you do in life! enjoy anyway!
leave a comment or7and like the idea.
stoploss level must go at least 10 pips below the beginning of impulse (124.60 something).
very aggressive traders may watch for reversal candle at the given time and level and then place stopp below that candle.
good matter would be to wait for break out of the correction and a little flag down and then break of that flag but this needs patience! still the best way to do.
take profit somewhere around 152.00
my time projection vertical lines give me an additional clue on the "when" (timing) which is good thing to know.
this is not a trade call. you are responsible for everything you do in life! enjoy anyway!
leave a comment or7and like the idea.
Komen:
here is another example how nice the time projection works. from historical data.
Komen:
lets wait some more. knowing where the turning point in time is makes it easier t wait patiently.
Komen:
this is slow.... but i still wait for the 1.272 to be hit
