【Scenario】【FX】Preparation: Week 1 of October Scenario Commentary【GBPJPY】
Only a little of September remains, and October is coming soon.
Without further ado, shall we start by checking the 4-hour chart?
★4-Hour Chart
It is declining while being supported by the short-term moving average.
This week, we judge that the downtrend will continue and trade with a selling mindset.
★1-Hour Chart
It is declining while being supported by the long-term moving average.
Similar to the 4-hour, the downtrend continues.
★15-Minute Chart
This is what the 15-minute chart that actually catches the timing looks like.
The long-term chart is in a continuing downtrend.
Sell when the Friday close comes back up
Or,
Sell at the retrace of the next lower pink line.
If there is a breakout above the blue→ line at 133.929, I would consider buying.
However, as a beginner, impulsive buying is not advisable.
I think it’s not too late to buy after confirming a reversal on the higher-timeframe.
★Daily Chart
Kirin-chan appears.
The daily Golden Cross seems ready to complete.
Crossovers of moving averages are advantageous, so they are a point to watch.
Since it hasn’t crossed yet, I’m curious to see what will happen next week.
For reference, on last year’s August daily chart there were patterns that seemed like a cross but didn’t occur.
Just for reference.
In the first week of October, on Friday the 4th at 21:30, the Employment Statistics will be released.
I plan to be prepared with no positions at that time.
Setting stop-loss is reassuring, and if the directions align, there can be unexpected profits, but
I will proceed with the 'no dance, fool' strategy!
Source: Investor Z (10) (Morning KC)
Thank you for always viewing.
You can check the latest information on Twitter.
Please follow me.