I thought it was a great Long setup yesterday with all Stochastic in sync.

But it didn’t work out.  The price continued to drop, and as a result, H4 Stochastic has not crossed up yet.

Let’s re-align the stuff.

I think it is OK to say the price is still in the Support zone on Daily, while Stochastic stays in overbought zone.

2015-12-03_13-53-13-GJ1

 

As I said earlier, H4 Stochastic continued to go down and has not crossed up yet!

2015-12-03_13-54-09-GJ2

 

However, look at Hourly Stochastic (below).  It started to go up and now above 25%, and 5/8 cross up !  (though the price is still far below 21EMA)

2015-12-03_13-54-40-GJ3

 

This is still VERY aggressive setup.   But I would like to buy this pair, once I see the break of Today’s high (184.30).   Or… to be on a safer side, I could further wait for the break of DPP, then buy this pair.

2015-12-03_13-55-30-GJ4

 

Once we can get into the next up-wave, I think we can ride H4 Stochastic up cycle.

 

Hope this setup helps your analysis.

 

 

YJ Baik – Forex.Today @ Tokyo

 

 

PS: If you are Bear, your setup is below…

2015-12-03_16-29-24-GJ7

 

 

One thought on “GBPJPY Trade Setup (Dec 3)”

  1. Artem says:

    Great explanation. Thank you YJ.

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