I am currently bullish GBP/JPY. If you refer back to the monthly chart, you can see that there is a clear bull move in the works. Looking down at the weekly chart, the gap last week was aggressively bought at the 50% retracement of the initial bull leg from lows. I have targets up at 150-154 which is the -23.6%, a trend line in that area, and untested monthly...
As stated on the earlier post, trying to go long off monthly support with minimal risk. Decent entry trigger on lower time frames. Stop is under lows, would like to see more accumulation/momentum build right here as well as 113.100's resistance breaking or we are headed lower. Definitely the right trade to take risk wise given context. Let's see how this goes....
Hey guys, new to the site here, posting here is a great way to track my trades and keep myself accountable as well to look back at what was done right and what can be improved, sort of like a personal journal.
Price has broken and retested trend, while building decent support on the hourly charts (1h,2h,4h). Entry was taken on the retest, would like to see some...
Looking at the Monthly chart, we are currently retracing up the down leg seen to the left (the range we are trading in). We have closed above the huge bearish engulfing candle and are currently retesting this level of support (shown by the box). Given that we are a few days away from the monthly close, I want to see some buying here to fade last month's low as...
Currently looking for a break and close above trend line on the Daily, as well as momentum to build on the 4h-1h for a move to 1.27's - which is also a key pivot point for a target.