GBPJPY - Helicopter View
In the daily chart, we can see the strong sell for GbpJpy. Other than that, we see many confluences of rejections.
Now it's clearly the latest direction following the selling pressure. We need to check the LTF for the best entry zone.
Now it's clearly the latest direction following the selling pressure. We need to check the LTF for the best entry zone.
Note
In the H4 chart, we identify the potential zone for entry. Apply stop loss or manually cut loss when price exceeds above our setup zone.
Happy trading next week.
Note
This weekly chart shows the latest direction is following the buying pressure. However, the candle remains between the Hi/Lo ribbon. Thus, we can say the GbpJpy is in sideways movement.
If the price reaches the W1BB box, we can then look for a new reversal pattern in it. Probably this can happen in the next two to three weeks. So stay tune.
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