Possible trading outlook for GBPJPY
1. Higher High, higher low formation seen
2. 4hourly trendline is bullish
3. Break Above of Ichimoku cloud to the bullish cloud
4.Retest of the ichimoku daily cloud zone and daily zone drawn above
5. Lagging span of the ichimoku has also broken above the cloud and is above the candlestick patterns curretntly.
Overall Bias will be bullish tho we have a daily bearish trendline hence the trading plan would be to wait for a break above of gbpjpy daily trendline and retest of the trendline, followed by break and retest of the zone.
Do note that the sl pips are just based on current as i would enter based on the 15min/30min/hourly/4hourly timeframe hence it would be a tighter SL instead of the figure shown in the chart.
Please do share your opinions on this chart analysis or kindly share tips that i could have seen in the chart that would help me improve my trading better.
Thank you.
1. Higher High, higher low formation seen
2. 4hourly trendline is bullish
3. Break Above of Ichimoku cloud to the bullish cloud
4.Retest of the ichimoku daily cloud zone and daily zone drawn above
5. Lagging span of the ichimoku has also broken above the cloud and is above the candlestick patterns curretntly.
Overall Bias will be bullish tho we have a daily bearish trendline hence the trading plan would be to wait for a break above of gbpjpy daily trendline and retest of the trendline, followed by break and retest of the zone.
Do note that the sl pips are just based on current as i would enter based on the 15min/30min/hourly/4hourly timeframe hence it would be a tighter SL instead of the figure shown in the chart.
Please do share your opinions on this chart analysis or kindly share tips that i could have seen in the chart that would help me improve my trading better.
Thank you.
Comment:
There is possible short opportunity should it reject the daily trendline and broke below the 4hourly trendline, Would personally wait to see Lower High formed before looking for possible short opportunities