So I don't remember if this made my top 3 list video last weekend or if it was just something that we looked at during one of our "Trade of the Day" live's but the GBPJPY is still on my radar going into this week. The opportunity is a buy at previous structure support with confluence from both an AB=CD pattern as well as a 1.618 Fibonacci extension.
Something important to remember is that this is a countertrend trading opportunity so (in my opinion) we shouldn't be looking for any type of extended targets rather simply an opportunity to catch a little bit of relief at an areas where I would expect previous sellers to become buyers (taking profits) & new buyers interested in seeing if this level can hold once again.
As always if you have any questions, comments, or want to share you idea, please do so below. Hopefully my voice can recover & I can continue to Live Stream my ideas for you this upcoming week.
Akil
Something important to remember is that this is a countertrend trading opportunity so (in my opinion) we shouldn't be looking for any type of extended targets rather simply an opportunity to catch a little bit of relief at an areas where I would expect previous sellers to become buyers (taking profits) & new buyers interested in seeing if this level can hold once again.
As always if you have any questions, comments, or want to share you idea, please do so below. Hopefully my voice can recover & I can continue to Live Stream my ideas for you this upcoming week.
Akil
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