Short position for GBPJPY A head and Shoulder formation is expected on the 1WK timeframe
Long Scenario: If the trendline resistance eventually breaks and horizontal support not broken we'd have a nice opportunity to buy the pair. Short Scenario: If the resistance trendline is respected, that is, not broken or the price gets rejected and the horizontal support gets broken, we can sell the pair. Pls give a thumbs up to show your support and don't...
WAITING IS A GOOD SKILL IN FOREX TRADING WAIT TILL IT BREAKS THE RESISTANCE BEFORE GOING LONG OR WHEN THE PRICE IS REJECTED THEN GO SHORT
The price is generally trending on an uptrend on the higher timeframes, we also had a double bottom formation pattern formed
The price is at a very strong support We have a potential double bottom about to form The RSI on M30, H1, H4, D1 and Weekly are on OVERSOLD POSITION I expect the pair to rise following the Scenario 1 and then break the resistance trend line Like, comment and support the idea if it's useful Thanks
Just being reactive to the market not predictive If price breaks above the Resistance line and then turned support, We go LONG after retest and confirmation If rejected at the current resistance area we SELL the pair... Success!
Technically Price is trending in a channel USD is strengthened for obvious reasons like the stimulus package, the increase in availability of corona vaccine Like, comment to Support this idea Success