GBPJPY Scalp Long - Order Block Analysis
Updated
GBPJPY Scalp Long - Order Block Analysis
Entry: 154.89 - 155.734
GBPJPY has already started reacting to this level. This is a good sign that GBPJPY may indeed push up from here.
Stop loss: 154.72
The area below the bullish order block provides us with a clear invalidation level.
Targets: 157.77
The bearish order block above give us a clear target to hit.
This idea is for educational purposes only. Please always exercise proper risk management.
Good luck!
- GBPJPY has got very close to its bearish order block (157.77 - 158.222) but not tested it yet.
- Pullback to bullish order block (154.89 - 155.734) may give GBPJPY the spring to bounce up to the abovementioned bearish order block.
- In a risk-on environment, JPY tends to weaken as a safe haven asset.
Entry: 154.89 - 155.734
GBPJPY has already started reacting to this level. This is a good sign that GBPJPY may indeed push up from here.
Stop loss: 154.72
The area below the bullish order block provides us with a clear invalidation level.
Targets: 157.77
The bearish order block above give us a clear target to hit.
This idea is for educational purposes only. Please always exercise proper risk management.
Good luck!
Trade active
Trade closed: stop reached
Unfortunately, this did not work out with JPY strength amidst risk-off moves in the global markets today.
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