GBPJPY Trading In Rectangular region
Hi traders!I hold a point:Good charts does not more words to explain! Good luck!
Hi,traders,I hold a point:Good charts does not more words to explain! Good luck
It a long term Trade with high Reward 1:3.5 Risk Reward let's see
We have a broken trend line on a very unstable pair, considering brexit and all. Don't risk too much on this pair as GBP acts really randomly, but with all that being said, this trade has a great ratio and we have already pulled back and am expecting upward movements to 157-158.
MY Idea BOJ Affects to move down a lot. I think it is going to 4th Wave (or A) I stil waiting for signal to trade. It is too risk to trade now.
SUMMARY: The secondary trend of GBP/JPY is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and is taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 164.10 and support at the level of 158.40. If it breaks...
another view of curent setuational on the market we can retest the support by creating double bottom and only then reverse for long , or ve can retest the trend line , bounce back and then brake the shit out of it.
The reason why we feel GBPJPY may RISE. * On weekly basis it has just started moving UP. * To RISE and come near 164.86 levels * Stoch RSI (3,3,14,Close) is Rising. * RSI (14,CLOSE) is Rising. * CCI (20,CLOSE) is Rising. Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above :163.29,...