Be careful around GBP in the next few weeks. But this trade set up is for a long. Look at the current range. We can see a bounce of resistance last week with a tight stop and a good win ratio. However like i said be careful around Brexit. IF MONDAY OPENS AND THEN CLOSES BELOW LAST WEEKS LOWS I WILL ENTER THIS TRADE SHORT.
If you scroll out on the Macro you will see this is in a huge range. However, there are a number of small ranges within the range.
There was a bounce at 112.03 support with a strong buy candle on daily having form. I am then going to wait until the candle breaks fridays high, and then enter. stop will be below the support and TP will be at top of range 114.20
Bounce of trend line,
Hammer candle formed on daily
Within range but if breaks the highs likely to continue long.
If i see a rejection at top of range around 1.84700 will look to close position and take a short.
Looks like a CADJYP long is lining up nicely.
Rejection on support level 3 times.
Possible pin bar candle forming.
Confirmation on indication of long position.
I want to wait to make sure this candle closes as a pin bar then tomorrow wait for a slight pull back before taking my long position.