【FX full-time trader cat’s Pound/Yen trade analysis 0515】

This is the Friday GBP/JPY.

I bet on the downside in the third expansion bite of fortune.

Let’s take a look at the daily chart.

I took profit around 70 pips late Saturday night. Only 70 pips… With this low volatility, I wonder if it will really go lower, but I won’t make any predictions (lol).

This is the four-hour chart.

It’s a selling reversal from the middle band.

This time I entered with discretionary entry of the N-Method. The key point is the moving averages.

Next is the 30-minute chart.

The moving averages are sloping, and considering the higher timeframes, there’s a shooting star on the intraday chart, so there are plenty of entry opportunities. People who are afraid of pullbacks and can’t enter in such spots tend to lose while seeking safety and certainty.

Next, the weekly chart.

There’s a gap between it and the 2 standard deviations. Will it try to fill this gap?

Monthly chart.

There’s also a gap between it and the 2 standard deviations, so it might aim for new lows again.

Well then, let’s do our best again next week.