GBPUSD already fulfilled the above forecast by gapping up approximately 26 pips at the open, from 1.2175 to 1.2201. In the five hours since then, price once again descended, as low as 1.2167, so that the previous forecast is back in play.
All six of the trades I made in my Nadex demo account at the start of this week have been successful, which leads me to conclude that the decision not to make any more changes on my chart configurations and simply focus on learning to interpret them correctly has put me on solid footing for applying them with some degree of competence going forward...
My charts remain essentially the same. However, there is nonetheless what I regard as greater and greater clarity as to (and shifting in) how much weight to assign the various measures plotted on my "forecast models," and in turn, the absolute best setups for entering positions.
The slope of GBPJPY's dynamic/adjustable projected daily price range envelope suggests the pair is ultimately headed higher. Consequently, if and when the four-hour trend reverses direction and heads north, the asset will become a strong buy candidate—especially if this occurs below the center of the estimated domain/price distribution (i.e., the 160.79 neighborhood or lower).
USDCHF is bearish, but the rate is nearing the lower band of the dynamic/adjustable projected daily price range envelope. It therefore strikes me as sensible to buy the pair if and when the four-hour trend reverses it sentiment from bearish to bullish, making this pair a tentative buy candidate under the above conditions.
GBPJPY is now in the above-mentioned neighborhood!
