tntsunrise
Long

GBPJPY finds strong support at 130.60 area

FX:GBPJPY   British Pound / Japanese Yen
GBPJPY             finds strong support at 130.60 area

Good to buy the low

130.75 is a good place to buy -- 0.618
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Very nice profit, thank you Jack.
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MY IDEA
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I think as much as the price found some base arround 131-130.70+/- zone how ever with london open coming up in an hour breaking this not so string support will be easy .
Will see. I am short on this pair to 129.90
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I'm in after Bat D retest, thanks Jack.
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i mean it looks like a flag, and the falling distance maybe the same as the previous bar of this flag?
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it looks like the pull back and will fall again
+1 Reply
You were on point!!!! Thanks!
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hi jack,i think 132.10 is a critical level here.
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papapa
+1 Reply
Hi I think it was a very good call, but a bit too early (I know it's eas to be smart after). Liquidity at 130 was taken and proce marked down a bit lower. As you can see, as the priced marked down a thick layer of Buy Limit orders was set in to prevent price going any lower and push the price up.

If tomorrow price tested the lows or if there is some sort of reverse candle printed on the chart (hammer, engulfing, etc.) I'll be bullish on this pair and set the Target1 @132 and Target2 @133.

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