Shite…The GBPJPY is trending up throughout the day. yeah, it might drop a bit which is called retracement.
pathetic traders who will come up with another reasoning or tool or indicator to justify what they say and said.
As I said earlier, contrarian trading approach is same as trend trading…won’t work ALL the time;
it will produce great results like trend trading does; but be prepared for the almighty reversal at any moment.
Don’t just follow the unproven traders blindly; use the hidden material between the ears, called the BRAIN.
GBPJPY had bullish move of about 170 pips and had about 50 pips retracement.
Now, had the brain put in use, know for sure which side to stick.
One will also realize, damn, almost on every hour there was bit retracement in that move, called wicks.