Active Trade If this Candle Closes In Green I am Long If it does not Then i will wait for Green Candle To Buy Here With Take PRofits At Flag And Stops Below trendline Low
Candle Close Below This Trendline Will Open Doors To High Bearish volume With Take PRofits @191.650 So Stay ahead Happy Trading Take profit Hit enjoy
I am looking for a short untill 183 area, which is point 4 of the wolfe wave. From there I would like to buy if the falling wedge in RSI breaksout north. Targeting at least point 5 and maybe even the sweet area in the wolfe wave. Once arrived there I believe we have a lot of pips to be made at the sellof.
In August of 2014 the pair broke out to the topside. Since late December we are in what I usually call on shorter timeframe's "buyer's remorse," although, it is harder to apply that to a timeframe like this because of macroeconomic trends and unforeseen geopolitical risks. However, the British elections are getting closer to completion, which should help alleviate...
I thnik, gbp/jpy pair is retrace from 183.351 for a nice trendline and support zone and also for fibonacci retracement. That's why I think , Its a nice opportunity for take short position from this point or we can wait for another confirmation. And in this trade setup we can take 1:1 or 1:2 risk reward ratio. So, don't forget to keep eyes on it. Best of luck.