Pound Yen Forecast 1H

We've been waiting for price to break out of the triangle for a long time - It may do so this week but it may also push back down to the structure bottom. Don't worry about that because we are only looking for the long set up. If we don't get it then we are not in the trade. Remember we don't chase the trade - we decide which trade we are interested in and wait for it to set up. If it doesn't then we have nothing to worry about.

Forecasts will be updated as they develop so remember to follow to receive them. You can also follow updates via twitter

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

Commento:

OK we've had a deep pullback from here price will either turn and give us a long entry or it will push on down to the bottom. - I'm only looking for the long entry.

Commento:

Price has reached the bottom of the structure - let's see if it bounces and gives us a long entry set up.

Commento:

Start looking for a long set up. A flag or deeper correction with breakout as drawn below

Commento:

Exactly as predicted - flag or correction next before continuing long

Commento:

This is going nicely - we'll will probably get a pullback soon although it might not be as deep as I've shown. I'll be staying in for the long run unless there is some dramatic change to the structure

Commento:

Looking good - it should go long again soon

Commento:

Commento:

Looking for a new long set up