Trade Analysis Based Around Market Liquidity
We have a potential wave setup forming on GBPJPY. Leg one formation from 164.085 to 161.922 which is the trigger point of wave B. If we see wave B form which is selling pressure from current market price down to 163.465 (our entry point) we will begin adding our buy positions on the asset and take half profit from 160.761 as well as locking in the remainder of the trade at B/E (163.465). Our profit target for full liquidation is at 159.692.
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We have a potential wave setup forming on GBPJPY. Leg one formation from 164.085 to 161.922 which is the trigger point of wave B. If we see wave B form which is selling pressure from current market price down to 163.465 (our entry point) we will begin adding our buy positions on the asset and take half profit from 160.761 as well as locking in the remainder of the trade at B/E (163.465). Our profit target for full liquidation is at 159.692.
Flip phone horizontally to view analysis in more detail.