After completing a bullish W pattern GBPJPY dropped off the top level into what I think is a bay of support. You have the 38-61 Fibonacci Confluence here that I think will hold the pair up.
This is the first time I'm uploading a chart on Trading View hope it's worth it!
Komentar
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I was definitely a bit early on this one. Need to start waiting for the actual turn in my desired direction or just scale into the position. Nevertheless, it's off the lower and now the uptrend can continue.
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RajaRashid
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will it touch 162 again ?
vbadali
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If it holds up here, it'll be back in uptrend mode and hopefully even break that level. This could take some time though.
RajaRashid
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Thanks
vbadali
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You're welcome. Good luck!
AmjadFX
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this is risky , good luck
vbadali
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Maybe but after completing the W it's a bullish setup, I think a lot of people will short here based just off the large bodied candle and get caught off guard. Thanks and good luck to you as well.