I return after an analysis a few days back with regard to the GBPJPY pair.
I had identified consolidation within the 142.400 - 143.000 region due to no market participants.
Today, what I can notice is that the consolidation box has expanded and the candles are off different structure.
the Parabola in this case acts as an uptrend support and the horizontal resistance as resistance.
the chart in further detail reversed on the 16th of August 2018.
on the 4 hour chart 145.000 would be a good take profit if the bulls spring into action, this is a trendy pair when given the chance so keeping tabs would be essential for precise execution
I had identified consolidation within the 142.400 - 143.000 region due to no market participants.
Today, what I can notice is that the consolidation box has expanded and the candles are off different structure.
the Parabola in this case acts as an uptrend support and the horizontal resistance as resistance.
the chart in further detail reversed on the 16th of August 2018.
on the 4 hour chart 145.000 would be a good take profit if the bulls spring into action, this is a trendy pair when given the chance so keeping tabs would be essential for precise execution