Please see EURJPY 4 hour chart attached. I have never seen before a trendline changing from resistance to support. If this continues to hold then we also have transitioned from a (mini) down to an uptrend.
Wishing everyone a good weekend.
Thank you Sir Gissa
I must admit it took me a while to make sure that I understood what I consider a message from you that was coded. Since I am not used to your clue dropping techniques and have no deciphering skills, I obtained the help of 'The House Prefect' in understanding your message.
In my opinion however I still think that this pair is headed higher. All JPY crosses are similarly placed, with USDJPY perhaps more bullish than the rest. I think when the Japs want something they usually achieve it. Unless of course news releases from them start sending contradictory signals - In such an event price can go down.
Anyway, we will watch what happens next week and I will not hesitate to bow down to your superior skills acquired over ..... hours of trading and screen time. Finally thanks also for showing me a screenshot without candlesticks - so much easier to see patterns that way.
Good question - who is the house prefect ? Well, I have seen some reference by you all to Sherlock Holmes. So I'll leave that question to you to figure out.
Hello Sir Gissachance,
Sorry for that post written in haste. Now when I read it it almost sounds rude. That was not the intent. Yes, i did understand your post first of all by the explanation given by Peter and then your second installment. Actually right from your initial comments I had guessed that your opinion was what usually comes after a H&S pattern. I just did not know what all your abbreviations meant.
I still believe that price will go up, think that the H&S formation is over too short a period to have enough validity, but I am really glad that you made your remarks. This had made me open my mind to the possibility that price could drop. Thank you for taking the time in doing that and then ensuring that I understood your message.
Yes Sir Gissa. My reference to Holmes was not to a real person but to Sherlock since you seem to talk a bit in riddles and like giving clues and hints.
Hi Oasis and Sir Gissa - I think you can see Oasis on Sir Gissa's last (brilliant) chart another very important clue that even the great Sherlock Holmes would classify as a major find ;-))
In fact that chart should be used in all tutorial classes and video's etc etc. - its is that powerful - and thank you for sharing it with us Gissa - ( the cream will always rise to the top and now I sure you can see why I and many others rate Sir Gissa so highly )
Enjoy your weekend
Yes Peter, I agree. When I saw that extra trendline on the last chart, I has the same thought.
My contribution to this drawing contest
Some very good charting gentlemen and an excellent contribution to the 'drawing contest' by pandora. Thumbs up ;)
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