Trading Strategy
GBPJPY
My trading journal for next week, I use same chart with this week at GBPJPY.
My trading plan:
- SELL, when prices break black trendline and close below it at daily. I use red-line for target.
- BUY, when prices break down-channel and stay above that at weekly. I recommend that price close above purple line for confirmation. I use blue-horizontal line for target.
GBPUSD
I like GBPUSD this week, I saw head and shoulders and price retraced at 38.2 at H4 yesterday. I've sold this pair at 15 May 2009 16.25 GMT, check my other post today.EURUSD
Next week EURUSD can be in ranging. I see ascending triangle can be formed.
Trading plan:
- SELL, price had closed below channel at H4. I think price will go south next week
- BUY, if price close above resistance line, I consider to buy at this pair.
- Until this pattern (ascending triangle) breaks out, just buy when price touch support line and sell when touch resistance line. I use candlestick pattern at H4 as confirmation.
USDJPY
I see reversal pattern (head and shoulders) this week for this pair and prices had closed below trendline. I think USDJPY will be in bearish next week.
Trading plan:
I just think to sell USDJPY next week. If next week prices still close below trendline, I'll consider to sell it.
