GBPJPY ANALYSIS
Updated
GBPJPYNOTE: (MARKET IS REACTIVE AND NOTE PREDICTIVE)
(LIKE AND COMMENT BELOW TO SHARE IDEAS TO SUPPORT )
From a daily perspective we can see market is in a bearish flow.
We can see that price has broken the support zone and may likely retest the support turned resistance as a common pattern of impulse correction impulse.
REMEMBER: THE MARKET MOVES IN WAVES, ALSO NEVER FIGHT THE MARKET AS WE ARE THE SMALLER THAN THE BANKS.
After the retest if that happens we can initiate a short position to the target of the lower box holding the bearish candle.
This will enable the trader to be on a risk free situation.
REMEMBER: MARKET IS REACTIVE AND NOT PREDICTIVE.
Monitor this pair from a 4Hour perspective for entries.
If you have any suggestion, drop in the comment section below.
Note
Hello traders, according to the analysis done few days ago we see the retest or the correction is happening. Feel free to like, share and drop a comment.
Trade active
tradingview.com/chart/fWbfcKAt/PRICE WENT TO RETEST THE RESISTANCE ZONE AND IT SHOULD FOLLOW THE DIRECTIO TO THE DOWNSIDE.
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