Tuesday, February 5, 2008

GBPJPY Early review

Good day!

It is only 4:40 AM right now, so market is very calm right now.
Anyway, we may analyze what we have, and some things are clear even now.

Here is a picture.



Ok, the 1st thing is Pivot Point - here I explained a little about it.
Price didn't manage to break it twice and after a bounce it came into a flat.
Also I want you to mention this divergence, marked with magenta lines.

All these things stand for ascending movement. I will watch the movement by these flat levels, that I marked out, by the Pivot Point and the closest support and resistance levels.
All MAs now are gathering at the price's location, it the sign of a strong movement. And at last, if you'll have a look on M30, you'll see that on this TF we can watch the price also by 233 MA, that is just a little higher.

For now it is all.
Look forward for the next review on the European session!

Best Regards and good luck to you!
Anthony Schneider.

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