The price perfectly fulfilled my last idea. It hit the TP level. The overall
GBPJPY price formed ABC movement, with the C point completed around the 196.000 level then boucned off. Recently, the price broke and closed below the 194.000 level, that has become a resistance zone. The market has since formed a daily inside bar pattern, and a breakout above or below Monday's high and low will likely determine the next move. Currently, the price is testing the lower boundary of a channel that coincides with the support level at 193.000. I think the price may form a range zone at this level before potentially continuing downward and breaking out of the upward channel. My goal is support zone at 192.200
Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
GBPJPY price formed ABC movement, with the C point completed around the 196.000 level then boucned off. Recently, the price broke and closed below the 194.000 level, that has become a resistance zone. The market has since formed a daily inside bar pattern, and a breakout above or below Monday's high and low will likely determine the next move. Currently, the price is testing the lower boundary of a channel that coincides with the support level at 193.000. I think the price may form a range zone at this level before potentially continuing downward and breaking out of the upward channel. My goal is support zone at 192.200Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
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🌎WebSite: lingrid.org
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Disclaimer
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💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
Related publications
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.