GBP/JPY - Pending Buy Position
Monthly:
Impulse with correction and consolidation finding support from weekly level.
Weekly:
Fake weekly trendline breakout and now break of weekly level.
Daily:
Breakout of Daily trendline. Great impulse!
4h:
The price now going down for correction and the on the 3rd touch we will see where price will go!
Risky Entry will be pending buy order at weekly level but with very small stop loss and good risk reward 1:3
It will be good to wait for Candle confirmation because after this big impulse the price can make a bigger correction.
I'm not financial adviser and this is not financial advise! Trader smart!
Impulse with correction and consolidation finding support from weekly level.
Weekly:
Fake weekly trendline breakout and now break of weekly level.
Daily:
Breakout of Daily trendline. Great impulse!
4h:
The price now going down for correction and the on the 3rd touch we will see where price will go!
Risky Entry will be pending buy order at weekly level but with very small stop loss and good risk reward 1:3
It will be good to wait for Candle confirmation because after this big impulse the price can make a bigger correction.
I'm not financial adviser and this is not financial advise! Trader smart!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.