GBP/JPY forming a bull flag on the 15min!
Hy guys!
After todays breakout with a strong impulsive wave to the upside, GJ is pulling back and is currently forming a bull flag, Checkout the screenshot, where you can find a very interesting zone of interest, consisting of a Pivot, 50EMA and the 50%-62% fib zone. Buy in this zone using a buy limit order or wait for price action and go long on a bullish candlestick pattern. Stop loss should be a few pips below the recent lows. TP minimum 1:1.5 but I think we could be in wave 3, so we don't need to set a TP target yet!
In case we don't reach this zone, we wait until the Bull Flag breaks and wait for a Pullback entry long!
Good luck and good night!
After todays breakout with a strong impulsive wave to the upside, GJ is pulling back and is currently forming a bull flag, Checkout the screenshot, where you can find a very interesting zone of interest, consisting of a Pivot, 50EMA and the 50%-62% fib zone. Buy in this zone using a buy limit order or wait for price action and go long on a bullish candlestick pattern. Stop loss should be a few pips below the recent lows. TP minimum 1:1.5 but I think we could be in wave 3, so we don't need to set a TP target yet!
In case we don't reach this zone, we wait until the Bull Flag breaks and wait for a Pullback entry long!
Good luck and good night!
SL Below the recent low around the Pullback zone for a higher risk or a sl below the support zone and the 200EMA for a very safe SL