Good morning everyone,
we are looking at the current price of the GBPJPY pair. As you see price is on a major 4h trend line right in a consolidation zone there (marked as always in yellow boxes). Also on lower frames like the 1h it formed a nice reversal candlestick wick down and this is were we entered. It was like 30 minutes ago. Please be aware that this is a swing trade and another fake out below the trend line could easily happen.
See you in profit guys!
we are looking at the current price of the GBPJPY pair. As you see price is on a major 4h trend line right in a consolidation zone there (marked as always in yellow boxes). Also on lower frames like the 1h it formed a nice reversal candlestick wick down and this is were we entered. It was like 30 minutes ago. Please be aware that this is a swing trade and another fake out below the trend line could easily happen.
See you in profit guys!
Trade active:
Price moved into major zone down and retraced back up.
Comment:
Price sitting on the 0.61 fib level. Still in the trade
Trade closed: stop reached:
SL hit. Market structure analysis was wrong.