The UJ, in stead of few days, it looks like they just get it done in less than a hour. The U has no foundation to be strong at this point of time, most likely it is a fault signal.

Spongebob's VS GBP/JPY Journal

There is no time for you to respond, I think, the best way is apply buy/sell stop on both sides after formation of platform.

Spongebob's VS GBP/JPY Journal

Normally people just draw a parallel lines or triangle line, waiting for the break through from the platform.

Spongebob's VS GBP/JPY Journal

U can see clearly that H1 has completed one wave. Have to see the next wave direction.

Spongebob's VS GBP/JPY Journal

Most likely it will not end so early, due to UJ has a requirement of up trend for few days, which the J will not strong.

Spongebob's VS GBP/JPY Journal

As you can see, GJ is under going a pull back wave, have formed clear on H1 chart whether will form one on H4 yet to observe, just to pay attention on when it end.

Spongebob's VS GBP/JPY Journal

Thanks for sharing this. It is about the same. When the movement is not steady, you will have a lot of fault signal. Wave pattern is the only system has not fail. Example, If a D chart is on the up trend, it will consist of at least one H4 ...

Spongebob's VS GBP/JPY Journal

Today is a rest day. It needs more than 24 hours to complete the correction.

Spongebob's VS GBP/JPY Journal

Trading Strategy Review: 1. Most of the previous strategies is no longer profitable, so, need to develop new trading methodology. 2. The range is so narrow, use H4 to judge the direction is not appropriate any more. Use D1 chart. 3. Base on H1/H4 ...

Spongebob's VS GBP/JPY Journal

Indicator Signal: Not like those days, the percentage of true signal is higher than fault signal. Nowaday, need to judge whether it is a true or fault signal. It seems like the percentage of fault is higher than true, especially on short TF chart. ...

Spongebob's VS GBP/JPY Journal

Take a rest today, it will be a boring day.

Spongebob's VS GBP/JPY Journal

Look like GJ, EJ still have at least one more wave up.

Spongebob's VS GBP/JPY Journal

H4 already have 4 arrows appeared, but no appear on the day chart as the parameters proposed to you. Indeed, it has lesser arrow.

Spongebob's VS GBP/JPY Journal

According to the H4 chart, GJ should have one more wave up.

Spongebob's VS GBP/JPY Journal

Totally in a very confusion situation. Dont know where is the direction. Anywhere is a 50/50 position.

Spongebob's VS GBP/JPY Journal

Focus of today is GU short.

Spongebob's VS GBP/JPY Journal

Sorry, the narrowest should be EU.

Spongebob's VS GBP/JPY Journal

Among EU, GU, EJ & GJ, the movement of GJ is the most norrow. Not a good pair to invest at this moment.

Spongebob's VS GBP/JPY Journal

Can start long now.

Spongebob's VS GBP/JPY Journal

Narrowing, it means the highest it can go today is only somewhere 132.5

Spongebob's VS GBP/JPY Journal