GBPJPY - Last week of July 2021Outlook for next week maintains bullish after nice correction of last week's bearish push to the downside. Bullish market structure on HTF has still not been broken, buyers keep creating new highs and reaping profits to better demand areas so the trend can continue without any shortfalls. We can expect price to pullback to the following areas before continuing its bull move to the upside.
Watch out for reactions at:
BUYS
151.880 - MRMR Buys to re-test highs created at 152.100
151.300 - HRHR Buys to re-test highs created at 152.100
152.200 - Intraday candle closures above previous resistance to continue towards Target at 152.500
SELLS
150.800 - Would only be looking for safest sells with intraday candle closures below this area
152.100 - HRHR Sells if price fails to break through this resistance to go towards 151.300
Analyze and study market structure, add fundamentals for impulsive moves and wait for setups that only make sense to you and that are a part of your trading plan. Safest setups for me are after OB's (Order blocks) there are breakouts and re-tests of those OB's to then continue towards determined target. Impulse entries with volume to push towards next target while managing risk appropriately.
Follow my trade entries in Instagram under @fxluma for more visibility showing wins-losses and everything with full transparency.
DO NOT DO THE FOLLOWING - OVERTRADE OVERLEVERAGE OVERRISK
Stick to the plan and make money, don't let money make you.
#lumafx #fxluma #long #gbpjpy
