Looking to BUY GBPJPY in BUY AREAS and to close positions in TP AREAS. (30+ PIPS)
- Do not enter on strong bearish momentum through BUY AREA 1, Strictly looking for reversal signs
- Wait for reversal pattern
- Enter on price action in BUY AREAS, should price break through BUY AREA 1 with strong bearish break through to BUY AREA 2, enter BUY AREA 2 on signs of...
After the bullish run of EJ last week it stopped at a crucial zone, my trend bias is still undecided, however, i am fairly confident that we will see EJ retrace to the zone in green (lower green box) before making its mind up whether its going to continue its break to the upside or crumble down in the downwards channel. The breakout last week could be a common...
Over time, eurjpy was pushed up from the area of YPP (P) 128.637 and MPP (P) 128.786.
It will be stopped around 130.000 and the next week will be come.
130.000 is not only a round number but also a head & shoulders neckline, so it seems that there are many conscious traders.
(Also worried that for MA users...