Hello everyone, if you like the idea, do not forget to support with a like and follow.
GBPJPY is approaching strong resistance in green from Daily (150.0) so we will be looking for sell setups on lower timeframes.
on H1: GBPJPY is forming a channel in red, but the lower red trendline is not valid yet, so we will be waiting for a third swing low to form around it to consider it our trigger swing. (projection in purple).
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone)
Until the sell is activated, GBPJPY would be overall bullish and can still test the 151.0
And of course, as GBPJPY approaches our lower blue support, we will be looking for buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBPJPY is approaching strong resistance in green from Daily (150.0) so we will be looking for sell setups on lower timeframes.
on H1: GBPJPY is forming a channel in red, but the lower red trendline is not valid yet, so we will be waiting for a third swing low to form around it to consider it our trigger swing. (projection in purple).
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone)
Until the sell is activated, GBPJPY would be overall bullish and can still test the 151.0
And of course, as GBPJPY approaches our lower blue support, we will be looking for buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich