GBP/JPY: bullish hammer candlestick
Great Britain Pound/Yen Japanese develop a bullish hammer candlestick in H1 timeframe, also the price it's into this bullish channel formation and we could to see a good position to long GBP.
Meanwhile, in H4 timeframe it's in process to develop the next candlestick to form in H4 timeframe, if we see a strong bullish candlestick in H4 timeframe and depending how long it's the force of bull. This it's mean that bull are going to carry the price to the upside direction.\
For now, in H1 timeframe I see this candlestick pattern called bullish hammer. Now, I entry to long posiiton around $165.64 JPY, Stop Loss to $165.06 JPY and take profit to $166.85 JPY. Now, it's not only that I consider this analysis as right, I'm watching the H4 timeframe and depending what kind of candlestick will form, I will keep this position, by the contrary, i will closed up if I see the unexpected key to keep the trade.
So, you can to put long position, but watching in H4 timeframe how the candlestick end.
Good luck!!!
I will update the H4 timeframe and inform you my decision in the next 2 hours.
Meanwhile, in H4 timeframe it's in process to develop the next candlestick to form in H4 timeframe, if we see a strong bullish candlestick in H4 timeframe and depending how long it's the force of bull. This it's mean that bull are going to carry the price to the upside direction.\
For now, in H1 timeframe I see this candlestick pattern called bullish hammer. Now, I entry to long posiiton around $165.64 JPY, Stop Loss to $165.06 JPY and take profit to $166.85 JPY. Now, it's not only that I consider this analysis as right, I'm watching the H4 timeframe and depending what kind of candlestick will form, I will keep this position, by the contrary, i will closed up if I see the unexpected key to keep the trade.
So, you can to put long position, but watching in H4 timeframe how the candlestick end.
Good luck!!!
I will update the H4 timeframe and inform you my decision in the next 2 hours.
