【9/23 (Mon)】Analysis of Pound/Yen market and trading strategy
Hello, this is Kinugasa.
This is about the trading strategy for GBPJPY on 9/23 (Mon) and the trading results on 9/20 (Fri).
The trading strategy reflects Kinugasa's view and is not a guarantee of profit. Please understand that if you trade based on this and incur losses, Kinugasa cannot offer any compensation.
Also, the analysis is based on the Span Model and the Super Bollinger Bands.
We explain this in detail in the article below, so please take a look if you like.
Now, let's take a look right away!
GBPJPY Strategy for 9/23 (Mon)
Daily chart
This is the GBPJPY daily chart.
As you can see at a glance, it has been held down from above.Around 135.650 seems to be quite heavyit seems.
The lagging span has turned bullish, and a buy signal is lit, so buying is somewhat favored.However, since the +1σ of the BB has also fallen below, there is a possibility of a pullback toward the Center Band for the time being.
In terms of the Span Model movement, this is the transition to acceleration—the transition move.
For the “transition to acceleration,” please see the article below.
On the daily chart alone, it is a bit difficult to formulate a strategy.
There is also a possibility of further downside, or it may stop appropriately and aim for a new high.
Let’s explore these from lower timeframes.
D
First, the 4-hour chart.
The lagging span is intertwined with the candlesticks, direction is unclear. The cloud shows a buy signal, but it is quite thin.
It is clearly forming a typical range market.
Because it is a typical range market, you can draw a high and low to form a box.Typically, price moves significantly once it breaks out of either sidein one direction.
Key level to watch is around 133.900 drawn from the lowthat coincides with the lower bound of the Span Model cloud and the BB −3σ. In other words,it could serve as a very strong supporthere.
If price approaches this level, you could hold a long position. However, if price breaks below this level, it will break the range to the downside, so it might be safer to switch to a short position.
D
Hour chart next.
Now, to summarize today’s strategy!
① Wait for a pullback to around 133.900.
② If a rebound occurs, go long. For a long position, the take-profit lines would be: close half at 134.700, then another half at 135.650, and keep the remaining half expecting a breakout. However, since selling pressure is increasing, taking profit all at 134.700 or 135.650 is also OK.
③ If price breaks below 133.900, go short. On the daily chart, buying is favored, so avoid aiming for excessively large pips. Still, aiming down to 133.400 seems possible.
I think this is a good strategy.
Both buying and selling are possible, but first we want to observe price action around 133.900.
That concludes today's GBPJPY strategy!
