top of page

GBPJPY - Is that buying? Watch out is cooking!


Our Story:

  1. We have hit a Fib and started retracing - that was expected

  2. Huge down Volume with small pip move.

  3. High SI of 12.6 at the bottom

Is that buying more buyng on the way down since the background is bullish or is that their first push down. Patience my friends next waves will show their intentions.

6 comments

6 Comments




I am putting this chart up as per your request. There was a plutus reversal short formed on last friday. I predicted that if the market broke the light blue support line at the bottom, it would be a high probability short trade. Of course, now we know the market didn't break it. As you said, patience is very important in trading which is evident in this example. If we jumped into this trade too early, it would be a loser now.

Like

TD DEV
TD DEV
Jul 03, 2020

Hi YK, thank you for your comment, can you elaborate (put up a picture explaining) whenever you have the time. You know me I always as you Why !!!!!

Like

the whole background is bearish and once plutus reversal short is confirmed by breaking the low resistance, short trade is high probability trade.

Like

TD DEV
TD DEV
Jul 03, 2020

The Pattern formed already is a Plutus Short but the break is too close to Fib are so I would be carefoul

Like

TD DEV
TD DEV
Jul 03, 2020

We just broke down could be a false break, this is a Fib area on 1HR cahrt we need to see volumes coming in and price to go back up to make sure that this was a false break and that the previous huge down wave to be buying.

Like
bottom of page