TradingView
pmgai
Apr 7, 2021 9:25 AM

Gbpjpy - Buy Long

GBP/JPYOANDA

Description

Price is at a significant area; this is the same structure that price formed when the double top was made. Price broke it and sold off but never retested it to confirm it as a resistance. Price ended up retesting a previous structure it broke but retested it as a support and now price is where it is now. On the way back up price approached that same structure and was pretty corrective then broke out. This possibly could be the retest to continue the bullish run. Based on the 4H candle close on the 1:00 mark there is buyers pressure, price formed a hammer candlestick pattern and on the 30 minute price formed a morning star
More