GBPJPY - long (8/5/23)
Confluences:
1. Uptrend - in 4H timeframe
2. RBR and strong support zone - 1H timeframes
3. Bullish engulfing - 1H timeframe
4. At EMA50 zone- in 1H timeframe
Reasons:
1. Market need to fill the imbalance structure before continuing going up
2. For a good profit, i want the market to retrace to at least 50% of fib level
Side note:
1. Entry , Stoploss & TP are different between brokers (few pips).
2. Price can retrace deeper, so if you have a small account, only enter after price action has created an uptrend structure in 15mins.
1. Uptrend - in 4H timeframe
2. RBR and strong support zone - 1H timeframes
3. Bullish engulfing - 1H timeframe
4. At EMA50 zone- in 1H timeframe
Reasons:
1. Market need to fill the imbalance structure before continuing going up
2. For a good profit, i want the market to retrace to at least 50% of fib level
Side note:
1. Entry , Stoploss & TP are different between brokers (few pips).
2. Price can retrace deeper, so if you have a small account, only enter after price action has created an uptrend structure in 15mins.
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.
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.