$GBPJPY 1.2813PowerLine Res level holding, event risk with Bank of Japan's Monetary Policy Meeting tonight, so will update chart in the morning following any moves
So no big moves overnight. $GBPJPY 1.2813 PowerLine still holding, rate 1.2775 last.
$ES_F Reaction from PowerLine res at 1468 now up 20points
updated chart - Still looking for short term bounce at 1437 area before resumed downside to 1421
Files:
futuresupdate.gif
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$GBPJPY - Reaction from 1.2813 PowerLine Res now up 60 pips. Please see chart posted earlier. Looking for initial move down to 1.2650s
So following the BoJ's 10tln Yen asset purchase announcement we saw the $GBPJPY PowerLines blown out to the topside. Chart is now updated
Files:
gbpjpyupdate.gif
39 kb
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Hi all, this is my first post on here.
Each week i will post charts with highlighted areas that i am watching for possible reversals, along with projections of where price may move should these reversals occur. Please note, these are NOT trade signals, these are simply areas i will be monitoring for potential reversals.
I use the core PowerLines support and resistance model derived from time frame, range, volatility and expansion; Overlayed with repeating market rhythms, fibonacci ratios and harmonic patterns, to determine such areas and projections.
Please follow the charts and i hope you find the information useful - feel free to ask any questions.
Thanks
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