Breakandretest
GBPJPY Short-Break & retestGJ impulsed to the downside and retested a previous resistance. We trade in levels so the next significant level is beautifully at the 27% Fibanoci level AND a previous level of support.
Trail stop loss! Use good risk management. This trade has a 4.73 risk to reward.
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Potential Head And Shoulder My bias on GJ is bearish, as we can see a possible formation of a right shoulder, also we can clearly see a break of that structure and retest, and also a clear rejection on the structure for a short move, will wait to see what price does at that structure, if price breaks above, I will have a different bias from what I have now. Kindly like and follow. Cheers...
Key Level My bias on EJ is bearish, after a huge rejection on the weekly time frame on the Grey highlighted structure, jumping down to the daily TF we had price unable to break the Grey for 4 straight days of trying, and on the last closing day price broke below, on the H4 TF we can see price has made a LL, and we can see push to to upside, my highlighted Zones, are areas of retest before further move to the downside. Compare with your setups. Have a great trading week ahead... Cheers