Technical Analysis - Reasons To Buy The GBPJPY
Sunday, July 28, 2013
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Many reasons why you might wanna consider going long on GBPJPY! above 150 , Just remember that nothing is for certain and for all we know, If there's one thing I do know about the markets, it is very tricky and anything, and I mean ANYTHING, can happen!
Remember, while we might not have any control over how price action develops, what we do have control over is our risk management! That's why it's important to always keep your risk in check. No one trade is worth betting the farm on.
Sometimes, using Elliott wave analysis, the count is not as clear and additional analysis with additional tools may be necessary. In this case, it is not. In many years of analysis, I have learned not to over-analyze a clear picture. Much of what happens in Elliott wave patterns is clear, given enough time for the pattern to reveal itself. As a general rule of thumb, if the pattern is not clear, then there are two things likely happening: either the trend you are in is not finished OR more time is needed for the new trend to take shape. To trade successfully in such times additional tools are needed to help clarify a count that may not be obvious. In this case, neither of these two lessons applies.
Here is the daily chart view of the GBPJPY showing this perspective .
Trade Entry At 150.20 , Stop At 147.60 Targeting 153 , 156 and 161.60
Ayman Khlifat On Twitter
Follow @aymankkhlifat
Contact Ayman Khlifat , email Aymanfxsignals@yahoo.com
Many reasons why you might wanna consider going long on GBPJPY! above 150 , Just remember that nothing is for certain and for all we know, If there's one thing I do know about the markets, it is very tricky and anything, and I mean ANYTHING, can happen!
Remember, while we might not have any control over how price action develops, what we do have control over is our risk management! That's why it's important to always keep your risk in check. No one trade is worth betting the farm on.
Sometimes, using Elliott wave analysis, the count is not as clear and additional analysis with additional tools may be necessary. In this case, it is not. In many years of analysis, I have learned not to over-analyze a clear picture. Much of what happens in Elliott wave patterns is clear, given enough time for the pattern to reveal itself. As a general rule of thumb, if the pattern is not clear, then there are two things likely happening: either the trend you are in is not finished OR more time is needed for the new trend to take shape. To trade successfully in such times additional tools are needed to help clarify a count that may not be obvious. In this case, neither of these two lessons applies.
Here is the daily chart view of the GBPJPY showing this perspective .
Trade Entry At 150.20 , Stop At 147.60 Targeting 153 , 156 and 161.60
Ayman Khlifat On Twitter
Contact Ayman Khlifat , email Aymanfxsignals@yahoo.com
