Potential Move to the upside for GJ next week testing out a new strategy am currently learning and looking for an entry around this 1hr order block 🔹Disclaimer: This Chart set up is to be used for educational purposes only, this information is not a recommendation to BUY or SELL. 🔹Seek Professional Financial advice if you are going to invest or trade in the FX Market
gbpjpy is creating a higher high in daily timeframe, this retracement finish on this two demand zones from there is a good point to buy if we see rejections.
Before taking trade do your own analysis. 1 Today was some fundamental news of GJ. 2 GJ retrace the area and doesn't break the 150.200. so its good buy trade.
we have seen this morning that Gj has had an incredibly strong push to the downside and I suspect that it should continue down past the support and retest the higher timeframes support.
ema 200 is strong support, and until it continues to support the price trend is stable. there could be another attempt to breaking the EMA if you do not want to risk a lot wait until the next reaction
Sells played out perfect as planned and stated.
This are my thoughts on GBPJPY for today buy pressure is dying so sells look better to me. Remember Markets are here to stay but your capital is not. Pipful day.
Long GJ into 154. After the sharp retracement today to the previous highs @ 153 we now see support being formed and will buy with final targets at 154.00
NOTE: For the greatest accuracy, at the beginning of each month I will make a parallel analysis between the charts of 1 week and 1 month! As I said on January 24 ... the month closes above the trend line then a new world opens for GJ and probably the new course will be played between 148-163!!! Even if the trend is upward and I think that in the next period GJ...
GJ is in an uptrend. Price recently broke the previous swing high. We can see a pullback to retest the zone then longs to 154.000
In this analysis I saw that Gj came up and broke the level of resistance which is a good indication that we are going to create new highs and I have provided a target of 155 because that is a large psychological level ( a nice round number) also if you scroll back on the chart we can see it has clean range to that price which is a very nice indication that buys...
in a few weeks, we will reach the major resistance, by breaking it the new path for a long target will be available. be touching EMA 200 a good and strong floor was made and if the major resistance rejects the price down that floor is the most strong support after EMA 200.
step 1, take the trade step 2, tip me tommorow :)