GBPJPY Trend continuation!!

FX:GBPJPY   British Pound / Japanese Yen
This was a trade that I had missed out on last week but still looks valid. Clear H4 uptrend as price continues to make higher lows and higher highs, price had broke through our resistance zone and pulled back to retest as support. Our fib also confirmed our golden zone giving a high probability of price bouncing as price action showed a few rejection candles forming. This trade was dripping with confluence...50 SMA below our 8 SMA indicating a upwards movement, clear breaks and re-test with price bouncing away near our fib golden zone. I would've entered with stop just below our support zone , and targets at previous significant level for a 1:3 RRR


I agree I posted a similar idea. The two previous lows also form a double bottom showing seller exhaustion.
+1 Reply
I agree with this. I'm targeting 136
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@mobsony Great stuff! Definitely one of them high probability trade 🙏🏾
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