- You can see on chart i use BB periode 20 and combine it with Fibo as Resistance and Support.
* Resistance : 188.853
* Support : 163.955
- and already over sold
- Candle hit lower bands at 168.950
So this is nice time for LONG! term continuous.
Fibo is always good to know price action moving as well as you know where the level is Resistance and Support.
Level Resistance and Support for 4H in GBPJPY i use the same with . So here i just wanna tell you my main direction for price action moving is Daily. Before u wanna setup or open position you have to know your primary direction u can choose 4H TF as main direction entry 1H TF or Daily entry 4H. It depends on you but the big time frame always tells the truth market , or Side away.
The important level on fibo is 0.38, 0.5 and 0.61:
- First target to reach at 173.491
- Second target to reach at 176.424
- Third target to reach at 173.357
You can Entry at 169.568