Putting It All Together

A rather lackluster movement for my beloved EUR/JPY which has been consolidating in a tight 165.50-167.00 range. Rallying first on its technical break of the prior's week high, got rejected, dumped, slumped, and stayed there for the rest of the week. Meanwhile, the Fed is very likely to hold rates steady in order to counter rising inflation, thanks to soaring energy and food prices. I'm seeing a hanging man on the daily chart, signalling that the current upmove is probably to be limited. But please bear in mind, given a tight range that we have now, I anticipate the next move to be abrupt and potentially violent especially after the G8 meeting. Keep alert and be flexible, I won't stick to my own analysis like a stupid fool should an update is needed.

I've been asked many times on how do I enter my trades. Ok people, let settle this down. I use 5M timeframe for my entries, TOPS as my main indicator. Buy when the median price crosses up the centerline, sell when the median price crosses down the centerline and - voila! a perfect entry..but there is a catch, you have to be in line with the current trend. To do that, check your 30M, and hourly charts. Remember, the above interpretations are subjective. You may have different indicators than I did, or some where I did not. As with any charting technique, there are way too many perspectives, different experiences will give different views.
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