Looking to do a structure based trade on the GBP/JPY 4HR pair.
As we can see, we are testing and holding support quite well with the tweezers candle formation, then the market rallied up and closed above previous RES, which now becomes new SUP and we're holding this line.
If we don't close below this SUP, we'll be looking to become a buyer in the hopes to hit TP1 and maybe TP2.
Hi, in my opinion is the res area still ahead, Price created dark cloud cover pattern near my res area and this is a quite bearish for me. I will start to think bullish after price close above 181.20 area. Wish you lot of pips.
UnknownUnicorn168204
⋅
Thank you for your comment itaskar, you too :)
itaskar
⋅
daily looks more bullish but there is not good RR , I dont think that this is good pair to trade right now.