Dear Surfer Friends, let’s take a look at the market.
How did it go yesterday?
Yesterday the price fluctuated between 1.1200 and 1.1350 without giving us ……to take action. Even Though the price seemed to have an opposite direction, our signal Swing & Relax on GBPJPY reached TP1. After that, the price hit the stoploss and the the Free Trade Technique was activated.
Today, the price is relishing the 1.1300 level and it is trying to figure out what to do. It is recommendable to note the false break of trendline resistance and the return of the price after hitting it. The DP has been already tested (actually the price action today seems to want to concentrate just close to it) while the triad DWM is still in bullish configuration.
Plan of the day
The current situation is not very clear: on one hand we have a trendline support quite interesting, and on the other hand , we recommend LONG operations due to the triad situation. Taking this situation into account, we will eventually modulate the risk.
Significant economic news
SurfingThePips staff wishes you all a fruitful day.
Daniele Angellotti Certified Trader | SurfingThePips.com