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I believe GJ will drop down 10-20 pips into that upper grey zone, bounce up and reject off of 152.100 before dumping. I reckon it will dump down to the bottom trendline/bottom supply and demand zone. If we see signs of it heading further down, then this may indicate that GJ is continuing a longer term downtrend.
For now, i think it may follow the turquoise arrows.
Updates to follow, follow me to see them.
I believe GJ will drop down 10-20 pips into that upper grey zone, bounce up and reject off of 152.100 before dumping. I reckon it will dump down to the bottom trendline/bottom supply and demand zone. If we see signs of it heading further down, then this may indicate that GJ is continuing a longer term downtrend.
For now, i think it may follow the turquoise arrows.
Updates to follow, follow me to see them.
Trade closed: stop reached:
Setup invalidated by impulse move. I've taken a buy from the bottom of the trendline.