potential long setup on pound aussie.
on a weekly chart the market is approaching a strong support level.
on a daily we see a classic inside bar formation.
I will be waiting for a close above the mother candle to open a long position.
Initial target - 1.850
Second target - 1.885
Stop - 1.807
As you can see price broke our trend line, respected our resistance line then dropped, price is currently now at another little resistance level after making a bullish correction where we either see a break or bounce.
Our thinking is we are going to get a bounce very soon either at the resistance level we are at now or the resistance level just above, either way...
Reposted! as this idea was hidden by one of the tradingview moderators due to violation of tradingview guidelines (using all 'Capitals' in description) by us which we deeply regret
Analysis team bought GBPUSD at 1.26950, with the target 1.3000 Long Term
Our GJ entry got stopped out (real market)
Looking to get back in - keeping a close eye on this pair for perfect entry point.
GBP Strength Coming
JPY Weakness Coming
Potential to see 138 met before bullish leg back to mid 140's
GO SMALL! GBPJPY is a Powerful pair - Does not need large lot sizes.
We have been looking at the resistance zone ( red box ) for a couple of weeks now ( if you see our previous USD CAD trade idea ) and we have been waiting for price to retest this level... price has finally done this today so now we are looking for movement down to our support zone ( green box )
Again we are keeping it nice and simple and not trying to fry your...
We are looking for price to enter our support zone ( red box ) before price bounces and makes bullish movement up to our resistance zone ( green box )
There was a big gap at market open and these gaps 90% of the time get filled, this gap was caused by Mr Trumps weekend antics with China.
If you need any help then just message us.