FX:GBPJPY   British Pound / Japanese Yen
239 7 5
great long opportunity as the market is pushing this pair to the upside ..we can see here on the monthly chart two strong rejection candles on the strong monthly support might cause an explosion to the upside
Comment: very strong monthly level as expected ..the price is going to the next level of resistance
Comment: still bullish
Right but we are on the beginning of wave C so target is 8000 pips in the 18 months coming. Good luck
+1 Reply
i only trade what the market is telling me so i just read the price action signals and put my target to the major support and resistance levels ,i don't forecast and i'm 80% of the time in profit ..thank you for sharing your opinion ..best of luck on the charts
@A.Sankar, how you are analyzing the trades? Do yo have any specific/favorite analysis?
A.Sankar StoykoKirchev
@StoykoKirchev, Identifying the major support and resistance levels(by using vertical levels ,drawing trend lines ,using fib levels,knowing the higher highs and higher lows) and reading the price action on them
@A.Sankar, nice one :) Do you recommend any books on that matter or sources of info? Thank you for your answer by the way!
A.Sankar StoykoKirchev
@StoykoKirchev, Yes , my favorite one is for John Murphy (THE TECHNICAL ANALYSIS OF THE FINANCIAL MARKETS) , you're welcome
@A.Sankar, thank you, appreciated a lot!
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