Sunday, 27 February 2011

GBP/JPY

My first pair is again GBP/JPY

as you see, I like to play with fire :-)

We'll take this journey from the monthly chart. As you can see, looks like the pair found a low, with slightly positive bullish divergence on the RSI. Also breakout of the huge triangle could pointing upward trend.

Weekly chart is showing similar picture.




On daily, long entry is not so clear, and looking at 4 h chart, my favorite strategy, I'll be looking for a long position returning to the 50 and 100 MA's, when I see increasing long period MACD histogram (it's just regular figures x 5).

I've put it on the 4h chart, so beside normal MACD, I can see 4x5 which is 20 hours, almost one day MACD histogram development. So it's kind a bigger picture on the same chart.

Interesting but so far no positions.





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