Expecting a break of structure past the 137.900 (previous HH) level to the completion of the bat pattern at 138.600 which is within the 88.60% and 1.618% point of the D zone.
From there I will be expecting a minor retracement (50.00% or 61.80%) to TP1 which is point B of the pattern, from there I will be looking for signs of a trend continuation to enter long...
At the moment we price is currently in a strong support and resistance zone ( green box ) In the trading week ahead we will be looking at 2 possibilities.
1. Price breaks out in a bullish manor and makes a run up to our 1st TP zone 146.800 ( 270 pips ) which is previous resistance with the possibility of making further bullish movement and reaching our next TP...
FX_IDC:GBPJPY
I am demo trading and documenting my progress. This is not intended to be a sell signal !
Ascending Trendline Structure on 4H
Possible Retest of 1H Resistance - Sell prediction on 4H with SL set at 2HR Inside Channel
Sell Limit - 144.800
SL - 145.500
TP - 142.500
Still holding positions from 150.858 now up to 152.397 - Have a TP at 155.850 for remaining positions then will be looking at selling the dip. Would like to know other peoples opinions on this and if anyone is doing anything differently
