GBPJPY updated, The current parabolic move is waay over extended compare to it's base (C). Plus, it is hitting the 0.382 Fib resistance so it will most likely pulls back from here. Therefore, I think short term (60 mins or 240 mins) can be sold for a couple hundred pips but for long term (position trading), the next up target is the 0.5 Fib grid is about 1000 pips, since it has finally broke out of a lengthy side way base. I would take advantage of the pull back to retest the base for position building (scale in) with that 1000 pips target in mind.
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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.