Rogan's journal "The Way Out"

[NickB]

Nice set-up Rogan thanks

[rogan]

Originally Posted by NickB

Nice set-up Rogan thanks

Thanks, although the 250 gap up has messed the pattern a little. I have adjusted it a little and will see how it looks in the morning when I wake up.

[rogan]

Hi Guys,

Looks like GBP/JPY will open with a gap down, but hopefully it'll pull back into or break the "bear flag" we have on the 4hr chart.

So some lines I'll be looking out for :

Short Side

141.02 scalp ( will see nearer the time )
138.84 scalp - This is practically a double bottom, but will be careful here of false breakouts. If in fact it is a double bottom then it's top is 165.10 for a break long.
129.32 scalp - All time low I think ( Not good if we get here )

Long Side

146.30 scalp - This could also be a double top, with it's bottom being 141.02 for a break short
151.77 scalp
154.27 S/R
157.54 scalp


There is a H&S pattern on the 1hr chart, which if we do open down could break the neckline and force us down to the 138.84 line

We could also just bounce back into the small "bear flag" or even back into the channel we broke out of last week.

Good Luck everyone

[rogan]

Hi Guys,

I'm pretty much done trading until March/ April time due to work stuff coming up. But I just thought I'd post a chart of what could possibly happen on the GJ. I know the chart colour are a little wild, but it's my demo platform



Take care