GBPJPY on the 4h chart is trading above the 160 level.
We know how this pair particularly love the round numbers and we can wait for a potential break of it to look for a short opportunity.
The price in fact after the uptrend move took the liquidity at the 166 level with a false breakout move with the 164 and 162 as ket levels in the downtrend.
After a first test of the 160 the price tested the 162 resistance area and moved higher to the 0786 Fibonacci retracement to the 163 zone.
How can i approach this scenario?
I will wait for a potential break of the support area and if that will happen i will be look for a nice short order according to the Plancton's strategy rules.
We know how this pair particularly love the round numbers and we can wait for a potential break of it to look for a short opportunity.
The price in fact after the uptrend move took the liquidity at the 166 level with a false breakout move with the 164 and 162 as ket levels in the downtrend.
After a first test of the 160 the price tested the 162 resistance area and moved higher to the 0786 Fibonacci retracement to the 163 zone.
How can i approach this scenario?
I will wait for a potential break of the support area and if that will happen i will be look for a nice short order according to the Plancton's strategy rules.