LONG GBP/GPY!
Here is my current idea on GBP JPY for this week/month.
Price has already bounced off the .618 level and unless I see new market structure being formed on the MTF (4HR etc) i will continue to believe price will reach the .705 fib level.
If not I will update the chart and find a long position.
As seen from the chart, I have 3 targets in place for this bullish idea, and I will need to see a close above 194.2 to validate it.
Inflation rate news also coming on the 15th which could explain the bleeding of all GBP pairs last week and we are already near 'priced in' levels. But I will be cautious and leave an update on my thought process when it happens.
Thanks if you took the time to read and good luck.
Price has already bounced off the .618 level and unless I see new market structure being formed on the MTF (4HR etc) i will continue to believe price will reach the .705 fib level.
If not I will update the chart and find a long position.
As seen from the chart, I have 3 targets in place for this bullish idea, and I will need to see a close above 194.2 to validate it.
Inflation rate news also coming on the 15th which could explain the bleeding of all GBP pairs last week and we are already near 'priced in' levels. But I will be cautious and leave an update on my thought process when it happens.
Thanks if you took the time to read and good luck.
Trade aktif
Woke up to price below .705 level.
waiting for it to possibly move past .618 then enter form there with stop loss right below the demand zone
Catatan
Looking for a strong candle and a retrace, if not i will not enter
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