Art_of_Trading
Long

GBPJPY: Trend + Channel

FX:GBPJPY   British Pound/Japanese Yen
On FX:GBPJPY             , there is a clear uptrend. Price makes higher high and higher low. Uptrend also well-confirmed by 2 Trendlines , which consider as a Channel in this set-up. Those trendlines are dynamic support and resistance .

Price smoothly respecting trendlines , and it is more likely that it will do it again. It gives us a nice opportunity to go long.

In my opinion, If price hist upper trendline again, it could be wise to lock the profit, but more aggresive traders could stay in trade, until price is in channel and making higher high and higher low.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out