Hello everyone
Before we start discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it !
GBPJPY :
obvious and valid parallel channel shows us best support and resistant zones for buy and sell.
Please note how the price react to the upper and lower line of channel and also, the middle line of channel is a good zone for trade.
now, the price breaks the middle line of the channel and pullback to it.
I think it is good opportunity for long GBPJPY.
My target is the upper line of the descending channel.
there is a lower strong support from daily time frame that shown in the chart.
please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Before we start discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it !
GBPJPY :
obvious and valid parallel channel shows us best support and resistant zones for buy and sell.
Please note how the price react to the upper and lower line of channel and also, the middle line of channel is a good zone for trade.
now, the price breaks the middle line of the channel and pullback to it.
I think it is good opportunity for long GBPJPY.
My target is the upper line of the descending channel.
there is a lower strong support from daily time frame that shown in the chart.
please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Trade closed: target reached:
the price reaches the upper line of the channel and you can close you position
