So, big sell off of GBP. There are loads of retracement levels for GBP crosses. I am taking GBPJPY to show potential reaction zone.
M30 – Around 143.90 zone. A retest of previous support turned resistance, with confluence of supply line, and the base of sell off. This zone should provide some reactions.
M5- Detailed look into price action. Expect compression or pattern such as triple tap into reaction zone.
Here are some charts to start the week. There are some other setups forming, but it is impossible to post it all. Anyway,� I thought CADJPY, EURGBP and GBPJPY provide some obvious techincal setups. Have a look.
Here are the …. CHARTS!
Here are some tweets that caught my eyes.
Everything you need to know about the EZ crisis in graphics http://t.co/vlCLPMQh
— TK_Trader (@Calvofx) June 15, 2012
We all love trading #GBPJPY..what I am looking at. https://t.co/5D8yb10y
— TK_Trader (@Calvofx) June 12, 2012
#DXY working off overbought condition as risk in squeeze mode..everything pointing to higher prices w/ daily bull flag https://t.co/hs8As9gU
— TK_Trader (@Calvofx) June 15, 2012
#AUDUSD and why I am keen to hold on.https://t.co/XYpNM5Uh
— TK_Trader (@Calvofx) June 15, 2012
Nonsensical mess: coming this weekend to a trading platform near you: http://t.co/cjLP8Ym2
— SteveW (@paracurve) June 15, 2012
You cant make this stuff up…. if Greece gets to Grexit, Slovakia wants to Slovacuate.
— Amara (@AmaraTrades) June 14, 2012
Dont get lazy in quiet markets. Get your orders out there. The market is quicker than your mouse.
— Amara (@AmaraTrades) June 14, 2012
i dont have a position but am looking to establish one #RFE #asx pic.twitter.com/jNrIv1MT
— grebfar (@grebfar) June 13, 2012
One major line on my $EURJPY chart is around 101.50-65 – same deal – 38% / major stop confluence
— SteveW (@paracurve) June 13, 2012
https://twitter.com/tradergav/status/213031365975871489
https://twitter.com/andrewunknown/status/212867591323131904
https://twitter.com/tradergav/status/212856368154157058
https://twitter.com/tradergav/status/212852533444612099
https://twitter.com/tradergav/status/212774389232566272
https://twitter.com/tradergav/status/212755843320516610
My plan for #USDCHF #parityparty https://t.co/J7HBIOAU
— TK_Trader (@Calvofx) June 12, 2012
@switch_mullet #NZDUSD position 2 https://t.co/wQBuyL3H ….lets see how far this bottoming pattern wants to go
— grebfar (@grebfar) June 12, 2012
Very slow and choppy week so far. Other than playing the Sunday gaps (which is not my favorite), there is not much going on now. Here are some charts I am watching closely at the moment.
EURGBP H1
EURUSD H1
GBPJPY H4
GBPUSD H4
Here are some charts with levels I am watching for the coming week.
$GBPJPY H1
$CADJPY H4
$GBPAUD H1
$AUDUSD H1
$EURAUD H1
$EURJPY H4
$USDCHF H1
Good trading!
Though it might be too early to call for this setup, I thought the chart might give my 12 readers some useful ideas. Anyway, this is assuming GBPJPY hold well around 128.35. I will negate this analysis if the level is broken.
I see two potential short opportunities.
Here is the ….. CHART!
