Well there is not much going. Sometimes the best trading decision would be to sit tight and enjoy a game of football and take your mid off. This market is for suckers and the sooner you realize that the better it is. There are times during which one should know by experience to stay out and not to touch anything with barge pole. Well almost anything (except GU today which was clearly called out to be a long in the trade room at 1.55). In follow to earlier analysis
, following charts are provided which prove my point that we are waiting for a break in the pricing pattern which is crouching for the last few hours (Average True Range is contracting and Bollingers for yen pairs are all squeezing).
EJ on the hourly looks to be ove the mid line of BB25,2. There is also an inside day supporting the move but the upper BB is not very far at 99.6 thus capping the upside. The bollingers are contracting Wwhich means resolution is nearing.
Bollingers are contracting for ES while prices are pushing the upper boundary. This is alive case of an imminent breakout coming. This supports my thesis that we could be in the early days of yen pair breakout.
This is the pair that makes me confident that we could be headed on Risk. The BB are expanding once again while prices are rising. This is classic behavior on price uptrend.
CJ Daily is capped by the daily mid BB line. This could be interesting where the hourly is showingdefinite signs of breakout the daily is capping it.