GBP/JPY 2 Intraday Scenarios
Updated
Morning Traders!
Price is doing a big acumulation just under what I see as a weak trend line and above a major H1 support level. As I see it there is not enough pips to trade between those levels.
I am waiting for the price to reach the trend line and see what happens from there.
If the price bounces from that small trend line, i will start looking for sells with my target on the major H1 support level (149,100).
If the price breaks out the small trend line, I will wait for a pullback and start looking for buys, with my targe on the next resistance level (150,000).
Good Trading Traders!
Price is doing a big acumulation just under what I see as a weak trend line and above a major H1 support level. As I see it there is not enough pips to trade between those levels.
I am waiting for the price to reach the trend line and see what happens from there.
If the price bounces from that small trend line, i will start looking for sells with my target on the major H1 support level (149,100).
If the price breaks out the small trend line, I will wait for a pullback and start looking for buys, with my targe on the next resistance level (150,000).
Good Trading Traders!
Note
First step completed. Waitting to see if it breaks or bounces.For a valid break out a H1 candle should close above the trend line.
Note
Here we have the first price rejection at the trend line. Will it try to break out again?Note
Here comes the H1 break out. I'll wait for a pull back and try to get in arround 149,630.Note
Price broke too hard and the pull back was too small for me to get in, as yesterday couldn't get in.
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