Posted by: joetradingplace | March 18, 2013

Daily Analysis 18/03

Some interesting charts today…we have seen a few pairs that have gapped..so we wait and see if there is going to be a follow through or trapped traders. We dont play the gap fill, but we keep an eye to see how price will react after the gaps are filled…or if price fails to fill the gap. We mentioned gbpjpy daily chart forming a head and shoulder pattern, the 240 looks like it might form a HnS…interesting to see how these will play. Eurjpy seem to be forming a double top on the daily…if you look closely, you can notice that we are also forming a wedge…

Gbpjpy Daily

gbpjpy 18-03 daily

Eurjpy Daily

eurjpy 18-03 daily

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