I analyzed GBPJPY from the Daily Time-frame. I noticed a pattern was being formed, which indicated Bearish longer term movements. I predict that before those movements occur, price will pullback into my marked gravitation zone. Which isn't far from the key 61% Fibonacci Level. Price is also currently testing a Daily Pivot Point Level. With two failed attempts already, another attempt may just give in to upward movements. If prediction goes as planned, I will wait for movements towards the 61% & 78% Fibonacci. If price doesn't close above the 78% Fibonacci, the buyers may be gassed out. I will then look for a short opportunity when it presents itself.
Thank you for reading. I'm going to keep dropping Analysis gems every week.
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Thank you for reading. I'm going to keep dropping Analysis gems every week.
Like This Post & Follow Us
Comment your trade ideas below