GBP/JPY 1D - Now price has traded into a large area of Demand I am expecting a reversal in this market, as we know this market is predominantly bullish anyway with the JPY being quite a weak currency compared to the GBP.
I want to see price break structure to the upside more fractally, giving us the confluence to suggest that enough Demand has been introduced to see price trade higher, once we have that we can begin looking for longs.
Following the prevailing trend we have majority traders on our back to help drive price higher. A break will give us the confluence needed so once we have that we just need to wait for price to pullback.
Price pulling back gives us the means to get involved in this market with a refined entry. allowing us to have greater risk to reward returns on our trades.
I want to see price break structure to the upside more fractally, giving us the confluence to suggest that enough Demand has been introduced to see price trade higher, once we have that we can begin looking for longs.
Following the prevailing trend we have majority traders on our back to help drive price higher. A break will give us the confluence needed so once we have that we just need to wait for price to pullback.
Price pulling back gives us the means to get involved in this market with a refined entry. allowing us to have greater risk to reward returns on our trades.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.