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Sell GBPJPY (educational)Sell GBPJPY (educational) "kalbotical retracement confluence 1" 1. Up Trend line broken 2. down Trend line formed 3. second leg has a strongest momentum so possible third leg for some kind of 1-2-3-4-5 structure ) You can catch momentu e.g with Squeeze Momentum Indicator 4. Look left for S/R zone 5 perfect Fib level - .618 6. Kalbot RSI shows the fastRSI line in the overbought area, so there is a possible end of retracement 7. Top predictor (or your mentor) loves this structure too 8. Plan your trade trade with one of possible strategies . e.g countertrendline break ( 9 ) strategy StopLoss 30 pips above U-turn Take profit :- 100 pips (3:1 trade) :- or -0.25 Fibs extension (10) :- or Look left for S/R level (11) 12 trade your plan
Education
by quql
1
GBPJPY: Some Longer Term Analysis (Long & Short)I apologize for the sloppy chart but this was the trade that I recently discussed in my Forex market Preview video & didn't want to erase anything just yet. (Link to my youtube page is in the "signature" box below) But essentially there are two potential trading opportunities that I have my eyes on for this pair. A potential counter trend trade (SHORT) if the market were to make it's way up to previous structure resistance. And a trend continuation trade (LONG) if we were to see some relief, in anticipation of a continued move up towards previous structure resistance. Either way i'm predicting that the market has room for more bullish movement, the question is "How Will It Get There?" and How/IF I will be able to get involved. We shall see!
by Akil_Stokes
6