GbpJpy trade

This ones near the highs again. That hammer trade for the short term was good but now it looks like a flag continuation pattern has formmed so if this breaks out past 1.4424 then it could motor a lot higher.
one to watch or trade

remo wrote: Hammer formed right at support. One to watch or trade
possible Entry half way down the hammer with stops below.
target will be the highs again

Keep your eye on a right shoulder formation here in the next few days. Neck line bounce here?

Hammer formed right at support. One to watch or trade
possible Entry half way down the hammer with stops below.
target will be the highs again

Ok found some time so will use the iPhone to try and explain.

I've been doing most of my research on fx at the moment (as you can probably tell with my post) and looking at price action in particular.
The set up for the trade has been brought to my attention on another forum.

It's basically a head and shoulders play on the hourly and a retest of the neck line. Right shoulder very important and indicating a lower low from the top.





The support resistance line shows this.
The next line SR line is where I expected the next retest to occu.

RMc

Hi Remo

Will post a better chart later with instructions later as no proper chart access.
It's all part of the forex price action I've been researching.

RMc

Hi Remo

Will post a better chart later with instructions.
It's all part of the forex price action I've been researching.

RMc