Well over the course of this week I have been watching the EURJPY quite closely.
Now we all hear about patterns and thing of that nature. One in particular is the pennant.
This link here is the 1st of the charts I posted on the EURJPY. Does not look like much yet. And then a day or so later in this chart shows a small trend.
As you can see I have not spotted the pennant yet. As time goes on you see in this post my trend lines change as I pick up on the pattern forming.
This is the point I was looking for, and this is the end result.
Though I would shed some light on this as although they do happen all the time not always so clearly seen and often open to interpretation (as is my drawing/calling this a pennant) as each trader will see things differently.
Remember you are you ultimate indicator and what works for another may not for you. As you can see. I don't use indicators and have not looked back since.
So yeah just though I would give back a little to a place that has given me so much.
Now we all hear about patterns and thing of that nature. One in particular is the pennant.
This link here is the 1st of the charts I posted on the EURJPY. Does not look like much yet. And then a day or so later in this chart shows a small trend.
As you can see I have not spotted the pennant yet. As time goes on you see in this post my trend lines change as I pick up on the pattern forming.
This is the point I was looking for, and this is the end result.
Though I would shed some light on this as although they do happen all the time not always so clearly seen and often open to interpretation (as is my drawing/calling this a pennant) as each trader will see things differently.
Remember you are you ultimate indicator and what works for another may not for you. As you can see. I don't use indicators and have not looked back since.
So yeah just though I would give back a little to a place that has given me so much.