As mentioned in a previous post, there is a very clear head and shoulders pattern on the weekly GBP/JPY chart. A head and shoulders pattern often suggests a reversal is coming. We have certainly seen a lot of volatility in the global stock markets on credit fears. The dow and the yen pairs have a […]
Entries Tagged as 'Setups'
Will the Carry Trades unwind? GBP/JPY Head and Shoulders Pattern
November 20th, 2007 · No Comments
Tags: Setups
GBP/JPY setup
October 23rd, 2007 · No Comments
A nice clean triangle currently on GBP/JPY. This could provide us with a nice trading opportunity in the coming days or possibly even sooner. This pair has been very volatile in recent days, so there is good potential make some nice pips if we see a break out. At the time of writing price is […]
Tags: Setups
A head and shoulders pattern in the making?
October 22nd, 2007 · No Comments
Looking at the weekly chart, for GBP/JPY there appears to be the possibility for the completion of a Head & Shoulders pattern. A Head & Shoulders pattern often suggests a more substantial downward move is to come. This is certainly a popular carry pair amongst many traders. This pair has a large […]
Tags: Setups
Forex Triangle Pattern on GBP/USD
October 12th, 2007 · No Comments
As we can see, GBP/USD is currently in a Triangle Pattern on the daily chart. This means that the recent range is getting thinner and thinner. A breakout at some point becomes inevitable and this can provide us with a nice trading opportunity. It’s very important that we remain patient at all times and wait […]
Tags: Setups
Finally GBP/JPY breakout
October 1st, 2007 · No Comments
GBP/JPY has been in a range for what seems like ages. It tried to break the 235.50 a few times but could not blast through. Finally today we have the break out.
Did you trade this?
I watched it blast through the 235.50 barrier, then waited for it retrace back to 235.60 then went long. Currently price […]
Tags: Setups