GBPJPY H4 showing a possibility of perfect bull entry at it's trend support.
H1 - Broken EMA200, will be retesting it as a dynamic support.
- Currently still locked in a channel, waiting for a breakout at H1 resistance ( 129.624 )
H4 - Can see a significant breakout of the channel stated in H1 chart bounced back down in respect to trend resistance. Might indicate a possibility that this pair respects trend > channel S&R.
- EMA200 is still far above and to be estimated reaching FIbo 0.5 level & Trend Resistance. ( 3 Strong Confluence to look for a sell in this 2 weeks time )
- 2-16 August had formed a reversal pattern ( Head&Shoulder) , so it's possible this is going to be a bull sentiment for GBPJPY.
Godwilling, Pound is going to be well fundamentally as most of the GBP pairs I've analysed technically is going bullish with a reversal pattern backing up my trading plan. Trade Safe :)
H1 - Broken EMA200, will be retesting it as a dynamic support.
- Currently still locked in a channel, waiting for a breakout at H1 resistance ( 129.624 )
H4 - Can see a significant breakout of the channel stated in H1 chart bounced back down in respect to trend resistance. Might indicate a possibility that this pair respects trend > channel S&R.
- EMA200 is still far above and to be estimated reaching FIbo 0.5 level & Trend Resistance. ( 3 Strong Confluence to look for a sell in this 2 weeks time )
- 2-16 August had formed a reversal pattern ( Head&Shoulder) , so it's possible this is going to be a bull sentiment for GBPJPY.
Godwilling, Pound is going to be well fundamentally as most of the GBP pairs I've analysed technically is going bullish with a reversal pattern backing up my trading plan. Trade Safe :)
Trade closed: target reached:
Sell Stop hit, with TP1 taken :)