GBPJPY H4 OUTLOOK 22 AUG 2018
Updated
PULLBACK SCENARIO IN DAILY AFTER INSIDE BAR FORMATION AT 140 SUPPORT LEVEL
MEDIUM TERM BULLISH IN H4
140.5 ACTS AS MINOR RBS LEVEL IN H4.
TL CONFLUENCE + POTENTIAL INVERTED H&S PATTERN.
TAKE PROFIT TARGET
1. 145 (BETWEEN 50 & 61.8 FIB LEVELS DAILY)
2. 147 (MAJOR SNR LEVELS)
3. 148 (MAJOR SNR LEVELS)
STOPS AT PREVIOUS LOW 139.8 LEVEL.
MONITOR BREXIT JITTERS & RISK SENTIMENT AS THIS PAIR ARE CURRENTLY DRIVEN BY SENTIMENT MORE THAN MACRO APPROACH ATM.
MEDIUM TERM BULLISH IN H4
140.5 ACTS AS MINOR RBS LEVEL IN H4.
TL CONFLUENCE + POTENTIAL INVERTED H&S PATTERN.
TAKE PROFIT TARGET
1. 145 (BETWEEN 50 & 61.8 FIB LEVELS DAILY)
2. 147 (MAJOR SNR LEVELS)
3. 148 (MAJOR SNR LEVELS)
STOPS AT PREVIOUS LOW 139.8 LEVEL.
MONITOR BREXIT JITTERS & RISK SENTIMENT AS THIS PAIR ARE CURRENTLY DRIVEN BY SENTIMENT MORE THAN MACRO APPROACH ATM.
Note
ALL TP HIT.
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