This is the GBP/JPY.
Looking at the Daily Chart, we see a very strong uptrend. But the market looks like its exhausted with moving up. Because huge imbalance is left after a resistance zone turned support. We must see the market come back to retest this area.
Looking at the 4hr chart, the market is in uptrend. but the candles and not that impulsive suggesting that we could be looking at a double top formation in the near future. To allow the market come back and retest this resistance turned Support.
We remain glued to his pair as we watch how the price action unfolds. For now, I am in a long position. but once i get signs that shorting has begun, I will close my entries to break even and short the markets.
Trade Smart.
*Trading with Samuel*
Looking at the Daily Chart, we see a very strong uptrend. But the market looks like its exhausted with moving up. Because huge imbalance is left after a resistance zone turned support. We must see the market come back to retest this area.
Looking at the 4hr chart, the market is in uptrend. but the candles and not that impulsive suggesting that we could be looking at a double top formation in the near future. To allow the market come back and retest this resistance turned Support.
We remain glued to his pair as we watch how the price action unfolds. For now, I am in a long position. but once i get signs that shorting has begun, I will close my entries to break even and short the markets.
Trade Smart.
*Trading with Samuel*