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23 May 2007

GBPJPY - great opportunity

GBPJPY - great opportunity


Alter about one week drifting Alligator got up and started eating whatever it found around his nose.
Once woke it took nearest Bullish fractal and formed immediately few more signals allowing to add more until accelerating.

As the Momentum shows this move was long enough and trader is not recommended to add more on the ground of Green Zone.

It seems to be time to collect profit and to look for the next opportunity.

At the moment it seems that the opportunity comes with a Bearish Divergent Bar. Perhaps movement turn doesn't looks like a high probability option but looking around we could find also other arguments supporting at least a consolidation of some sort.

One is seen as a Double Tops on the weekly chart below. This is one of the possible scenarios. Other is the power steamed so far to result in a break up...

We'll see. Important is to keep loses small and to lock the profit (Easier to say than to do!)

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