I loss 9 pips last week. I got more winning trades actually but my TP was only 15 to 25 pips and the losing trades was around 100 pips. I also trade more pairs, looking for more opportunity beside GBP/JPY. As for the system, the Gann indicator really teased me;P My entries on the last few days were based on it. I still keep the 21 EMA and 13 EMA on my chart though, as support/resistance.
The pair still consolidating, but I expecting a correction to 208.11 area (38.2% retracement of 199.76 to 213.27) in the next couple of weeks or so. However it must break the base line around 211.40 and 210.68 first (near 23.6% retracement level). MACD cross below 0 level might confirms the correction wave.
The pair still consolidating, but I expecting a correction to 208.11 area (38.2% retracement of 199.76 to 213.27) in the next couple of weeks or so. However it must break the base line around 211.40 and 210.68 first (near 23.6% retracement level). MACD cross below 0 level might confirms the correction wave.
Well, the purpose of this analysis is only to provide me the bigger picture. I still trade on 1 hour chart. The other reason might be because I'm bored;P Anyway, I'm not in my best mood at the moment because Italy has just lost against Spain. (But I didn't put any money there:D Thank God I didn't) The market has open now so have a nice trading week people!
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