GBPJPY is now ready to go high :
- It is now at the bottom of a long-term uptrend channel
- strong support range with 3 hits
- RSI also touched the oversold range
Don't forget about money management and Risk management :)
SL : 148.190
TP 1 : 151.470
TP 2 : 153.000
I go long ;)
*this is just a personal analysis and this person has no responsibility of...
Daily: Bearish engulfing candle after upper trendline line touch
Price is in an ascending channel
Overall trend = downtrend
LTF correction towards the upper trendline line, Indicating us that price could reject the upper trendline and move to the downside
Price broke out of the LTF correction, need to wait for a correction before an entry
Need to wait...
Looking at Cardano for further up move.
Overall price action is finally showing us some bullish potential.
Price was in this deeper consolidation channel structure, correcting the price down.
Latest price action give us an Inverse Head and Shoulder, and a clean LTF bullish push up from the right shoulder flag correction.
All I want to see now...
4hr Time Frame: Reading price we can see that we are breaking back below our 76.500 monthly zone. If buyers are looking to hold momentum, we are going to need to see a break and retest above 76.500 for potential long opportunities to 77.400 and potentially 78.250. AUDJPY has created a huge impulse to the upside and has pulled back to create a double bottom...
Key points :
New trend starting after ABCD pattern
First pullback occuring on 50% retracement
Volume on uptrend is higher than downtrend
Consolidation taking place
This isn't a quite regular ABCD pattern, even though the time between AB and CD is almost equal (or near). What I look for when trading this pattern, is either the...