Here's my look at the GBP/JPY currency pair, with each candle on the chart showing 4 hours of trading. I've drawn a white line that's sloping up; this is a trend line that shows the price has been generally increasing over time – it's like a path that the price has been following upwards.
Just above the current price, there's a dotted line; that's the resistance level. It's a line where the price has tried to break through several times but hasn't managed to stay above it. Right now, the price is testing this level again, and I've put two possible paths with yellow dotted arrows – one going up, suggesting the price could break through this time, and one going down, indicating the price might bounce off and head lower.
The big question mark represents the uncertainty – will it break or bounce? That's what we're waiting to find out. This chart helps me visualize the potential moves and plan my next trading steps.
Trade active:
going to the right position, lets wait for more pips!
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