🔰 Pair Name : GBP/JPY
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SELL
GBP/JPY has experienced a bullish run in recent weeks, leaving significant liquidity and market imbalances in its wake. This week, the price broke above the upper trend channel on the daily chart, indicating a potential shift in direction.
Currently, it appears that the price is preparing to retest the previous uptrend channel. As professional traders, we anticipate a retracement towards the 180.5 daily support level, followed by a move towards 179.03 to refill the market imbalance.
By revisiting these levels, the price will potentially find support and re-establish a balanced market structure. It is important to monitor price action closely and evaluate any signs of a reversal or continuation during this retracement.
Stay vigilant and adapt your trading strategy accordingly as the price retraces and seeks equilibrium within the established uptrend channels.
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SELL
GBP/JPY has experienced a bullish run in recent weeks, leaving significant liquidity and market imbalances in its wake. This week, the price broke above the upper trend channel on the daily chart, indicating a potential shift in direction.
Currently, it appears that the price is preparing to retest the previous uptrend channel. As professional traders, we anticipate a retracement towards the 180.5 daily support level, followed by a move towards 179.03 to refill the market imbalance.
By revisiting these levels, the price will potentially find support and re-establish a balanced market structure. It is important to monitor price action closely and evaluate any signs of a reversal or continuation during this retracement.
Stay vigilant and adapt your trading strategy accordingly as the price retraces and seeks equilibrium within the established uptrend channels.
Trade active
Comment:
Simple trade, don’t miss out.
Comment:
We have taken our first TP here, and we are looking for price at least to go down to 179.95 area.
Comment:
Comment:
GBPJPY successful drop down 200 pips from our sell position after poor economical data release this morning. Stay tuned to see GBPJPY next move