KLS GBPJPY BREAKDOWN:
GJ printed two new bullish key levels. First key level we will be paying attention
to is 163.494. If price breaks / violates the CT (violation would be when price breaks
below and finds resistance below our CT level) our next potential buy opportunity will
be 163.283.
With the KLS indicator- these levels print out automatically according to market conditions. Once conditions are met - new levels will print and new opportunities are presented.
KLS provides you with your directional bias for the given day. Understanding that when the blue key level is above the RED key level, you are looking for long opportunies and the overall sentiment of the market is BULLISH
when Red is above the Blue key level, then you are looking for price to have a Bearish Sentiment and will be looking for sells upon retest.
Your safest bet is to wait for price to retest your key levels- I prefer to use the 1hr as my retest TF and will wait for entry. KLS also provides you with Buy and Sell alerts and you can use the SL and TP it provides as well.
Let's see how GBPJPY develops
Trade active:
GBPJPY has retested our first KLS LEVEL
We can take this and use the KLS provided SL and TP or we can also place SL below our RED KEY LEVEL and set our TP to 1:1.5 or 1:2
GBPJPY has retested our first KLS LEVEL
We can take this and use the KLS provided SL and TP or we can also place SL below our RED KEY LEVEL and set our TP to 1:1.5 or 1:2
Trade active:
I will continue to post NEW KLS opportunities as they come. Make sure to follow and for any questions on how YOU can use the KLS, simply email me.
Thank you.
Dr. Profit.