vbadali
Long

Buying GBPJPY after the huge dip!

FX:GBPJPY   British Pound/Japanese Yen
138 6 1
After completing a bullish W pattern GBPJPY             dropped off the top level into what I think is a bay of support. You have the 38-61 Fibonacci Confluence here that I think will hold the pair up.

This is the first time I'm uploading a chart on Trading View hope it's worth it!
Comment: I was definitely a bit early on this one. Need to start waiting for the actual turn in my desired direction or just scale into the position.
Nevertheless, it's off the lower and now the uptrend can continue.
will it touch 162 again ?
Reply
vbadali PRO RajaRashid
If it holds up here, it'll be back in uptrend mode and hopefully even break that level. This could take some time though.
Reply
RajaRashid vbadali
Thanks
Reply
vbadali PRO RajaRashid
You're welcome. Good luck!
Reply
this is risky , good luck
Reply
Maybe but after completing the W it's a bullish setup, I think a lot of people will short here based just off the large bodied candle and get caught off guard. Thanks and good luck to you as well.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder 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
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out