Huge downside potential for GJ, find out why here...
Hey guys hope you are all well! I have a nice clean GJ set up here ready to start the week strong!
Strong support identified on the Daily timeframe @143.00
Intraday support formed on the 1H timeframe @144.300
Range identified on the 1H / 30 minute timeframe.
On Friday last week, the daily candle closed bullish. Price reached 144.900 before starting to reject the area (more clearly seen on the 4H chart).
Moving down the the 4H timeframe, there are clear candles rejecting 144.900, but price action does not give enough information to gather an opportunity to get involved in the market.
On the 1H timeframe, price action is more clear, I can see where the market had bounced off the intraday support level @144.400 during the London session and the bullish momentum was still in full pace all the way through the NY session where GJ has created a fresh yearly high (144.900), from looking at the 1H timeframe I can also see more clearly how the 4H bearish rejection candles formed.
A range has also been identified on the 1H timeframe which had formed leading up to market close on Friday.
I expect GJ to breakout of the range to the downside to at least 144.290 to perform a correction after setting a new yearly high. It is all down to how the market plays out during tonight's Asian Session and tomorrow's London and NY sessions.
Let's smash this week plenty of opportunities ready to capitalise on!
Feel free to leave a like on this post if you agree with my analysis!
Be sure to follow me for notifications when I post new analysis!
Strong support identified on the Daily timeframe @143.00
Intraday support formed on the 1H timeframe @144.300
Range identified on the 1H / 30 minute timeframe.
On Friday last week, the daily candle closed bullish. Price reached 144.900 before starting to reject the area (more clearly seen on the 4H chart).
Moving down the the 4H timeframe, there are clear candles rejecting 144.900, but price action does not give enough information to gather an opportunity to get involved in the market.
On the 1H timeframe, price action is more clear, I can see where the market had bounced off the intraday support level @144.400 during the London session and the bullish momentum was still in full pace all the way through the NY session where GJ has created a fresh yearly high (144.900), from looking at the 1H timeframe I can also see more clearly how the 4H bearish rejection candles formed.
A range has also been identified on the 1H timeframe which had formed leading up to market close on Friday.
I expect GJ to breakout of the range to the downside to at least 144.290 to perform a correction after setting a new yearly high. It is all down to how the market plays out during tonight's Asian Session and tomorrow's London and NY sessions.
Let's smash this week plenty of opportunities ready to capitalise on!
Feel free to leave a like on this post if you agree with my analysis!
Be sure to follow me for notifications when I post new analysis!