【Environmental Awareness】【FX】Warm-up: November 2, 2019 (Saturday) 【GBP/JPY】

Hello and good evening, this is Chiiko.

It has become November.

今日は環境認識していきます。

よろしくお願いします。

W1: Weekly

A trend reversal from a sharp rise.

Overall, I consider it in an uptrend.

However, looking at the candles of the past few weeks,

it seems that a pullback is forming, so I view it as a downward move within an uptrend.

Whether it is a pullback or a drop cannot be judged at this point,

and if it continues to fall toward the turning point, there is a possibility of entering a downtrend.

It would be clearer if the lows were confirmed, though ~ lol

D1: Daily

The overall flow is an uptrend.

But currently it is cooling off from a sharp rise and moving in a range.

The pullback (downward) forming on the weekly chart is forming as a range on the daily chart as well.

4h: 4-hour

The 4-hour is similarly a range within an uptrend.

Since it’s Pound/Yen, even within a range the volatility is about 100 pips,

so you might want to buy near the lower line boundary, but

the portion forming the pullback on the weekly chart is briefly a downtrend,

and even though it's an uptrend, it doesn’t rise all the way.

1h: 1-hour

One hour is ...

at this scale it’s very hard to read, lol

So, I’ll draw it out visually.

Then I think the overall situation becomes easier to see than before.

Looking at only a part might seem like a trading opportunity,

but in the whole, it often turns out to be a mirage, lol

Summary

November's second week also looks likely to be a wait-and-see period.

The reason is that the chart is messy and I can’t write a scenario.

If I can’t write a scenario,

→ I can’t trade

→ Without a plan, I can’t trade

→ So I’ll stay on the sidelines

→ In a sense, the scenario (plan) is playing out lol

There was a possibility that Pound/Yen would move significantly due to Brexit-related issues,

so I paused in October.

From November, I’ll wait and observe as I watch for a moment to act.

Don’t rush, don’t rush.

Take a short break, take a short break.

The title was strange, so I corrected it and saved.

At the bottom there is a section for paid articles, but even if I delete it, it keeps reappearing

and I don’t know how to delete it...

(Probably just doesn’t know how to delete it...)

When I corrected it, the article was accidentally erased, so I rewrote and re-uploaded.

Thank you for reading all the way to the end.

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