Patiently seeking for the Possibility of entering this GBPJPY Long setup.
--Reason why: PoundYen been declining since mid July,
however i still believe the fall for pound is still not over this may be a possible area where price
may begin to retrace.
-- Waiting on a possible confluences of a break in resistance to justify the breakout in structure.
-- 76.4% Since adjusting the new swing low and swing high
u can see how price has rejected of the 76.4% level until it re-tested the support trend-line
-- My Aim For Getting In Long on this pair will be based on a Candle close above 0.764% and 132.386 which is a major resistance area
-- Target 133.888 Possibility of MAJOR resistance area or hit of the golden 61/8% ratio
Price close above the area i will add another positions and aim to swing the pair to 137-138 price area.
--Reason why: PoundYen been declining since mid July,
however i still believe the fall for pound is still not over this may be a possible area where price
may begin to retrace.
-- Waiting on a possible confluences of a break in resistance to justify the breakout in structure.
-- 76.4% Since adjusting the new swing low and swing high
u can see how price has rejected of the 76.4% level until it re-tested the support trend-line
-- My Aim For Getting In Long on this pair will be based on a Candle close above 0.764% and 132.386 which is a major resistance area
-- Target 133.888 Possibility of MAJOR resistance area or hit of the golden 61/8% ratio
Price close above the area i will add another positions and aim to swing the pair to 137-138 price area.
Note
GBPJPY, Importance of being patience, finally got the close above 76.4% however price is currently struggling to break the resistance area, which i posted i will only enter long when resistance is broken, will be patiences until that area is broken before entering a long positions.Trade active
Trade STOP LOSS BREAK EVENNote
GJ UPDATE Trade closed: target reached
Stop Loss At 400Pips ProfitTrade closed: target reached
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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.
Disclaimer
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.