-Assuming it respects black line (support) -Test green line (resistant) -Looking to break resistant and follow yellow line - If resistant does not break, will follow blue line and will bounce back to black line (support), and again reattempt to break green line (resistant). -Biggest challenge is breaking the Green Line, after that 10,000 is the next...
-Assuming it respects the yellow line (support) - 0.382 fib is first target- 1.365 -Stoploss 1.3200
Just waiting for confirmation of next candle. and then follow trend. Looked like uptrend, but it is testing the fib as I am publishing this idea. It is testing the fibs nice. So maybe couple swings. If it stays up, than id assume it try test the next fib. Otherwise its going down or sidewards. Short term, not for too long. 4hr candle.
Using previous data, I have gone for the idea that GBPJPY will go up. The blue line I've drawn is what I'd think would happen. I'd expect a couple of candles going down to start with, and than a reversal going up, maybe 3-5 bullish candles. There onwards, following my trend lines, wedged- the price squeezes in and than going up to my fib point 1. After that,...