GBP/JPY Bullish idea 23/04/2024
Price has been moving down on the 30m and 4h chart creating lower highs and lower lows but this morning price broke the most recent resistance indicating a possible change in structure. This was confirmed with a higher support on the 30m chart which means trading this time frame alone I would be looking for buying opportunities. It is nice confluence to see this on both time frames
Price on the 4h has closed above range support so if price can remain above the support it makes sense to see further upside. Waiting for the next support to form on the 30m chart would be an indication to get involved in to trade price to the next resistance looking left and this aligns with the top of the 4h range
This is very basic price action and not something I will be trading as it does not align with my trading session however I often plot these areas to give me a wider picture on what structure is telling me so I thought why not post
Price on the 4h has closed above range support so if price can remain above the support it makes sense to see further upside. Waiting for the next support to form on the 30m chart would be an indication to get involved in to trade price to the next resistance looking left and this aligns with the top of the 4h range
This is very basic price action and not something I will be trading as it does not align with my trading session however I often plot these areas to give me a wider picture on what structure is telling me so I thought why not post
Trade closed: target reached:
"will not be trading"
Nice to see NY volume take price to target in a short period of time
Nice to see NY volume take price to target in a short period of time