AFTER RECENT BULLISH STRENGTH THE MARKET IS CONSOLIDATING, I'M EXPECTING AN OUTBREAK THIS COMING WEEK. WE NEED A CLEAR BREAK OF THE 142 ZONE AND SHOULD SEE A CONTINUATION OF TREND TO THE NEXT LEVEL OF 148. ALTERNATIVELY WE COULD SEE A SURGE DOWN TO RETEST PREVIOUS LEVEL/TRENDLINE, PERSONALLY I WOULD EXPECT A BULLISH OUTLOOK TO BE MORE LIKELY BUT WE WILL HAVE TO SEE.
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...
Looking to SELL GBPUSD in SELL AREA and to close position in TP AREAS. (30+ PIPS, Potential 120PIPS SWING)
- Do not enter on strong bullish breakthrough of sell area
- Look to enter on reversal pattern
- If price breaks through 122 area with strong bearish momentum, execute sell
TRADE AT YOUR OWN RISK!