The plan is to buy when price enters the blue Support Zone on the chart.
The reasons for buying are.
1. Zone has supported price on the past 6 attempts
2. Zone has held since February 2015
3. Fib 61.8 level is holding too
4. Price is bouncing and being supported by the green 50 ema and red 100 ema. also the 200 ema is sloping up.
10 - 20 pips Below...
I am looking to going long on gbpjpy my reasons are
1. clear uptrend supported by rising trendline and above 50 sma
2. price is currently at 50% fib confluence level
3. price is currently contained within a bull flag pattern which is a trend continuation pattern.
4 bullish divergence on rsi
1. trade will be taken in 2 units.
2. i will be looking for...
Reasons for long.
if price gets to 0.78948. i will enter long.
1.horizontal support and slope support are in confluence..
2. fan is also offering support.
Trade is invalidated if price reaches 90% of target before entry.