GBPJPY - BUY POTENTIAL
Hi everyone,
Please see my GBPJPY trade idea attached.
Looking at GBPJPY on the higher timeframes such as the 4H & 1D we can see price is very bullish making very strong moves to the upside, with this being the case we will be looking for buy opportunities only.
With us using the 1D & 4H to get the directional basis I have dropped into the 1H which I have marked out the key zones in which price has reacted previously. With the areas marked up we can see price has made a strong push through previous resistance.
I would look for a pullback to the zone marked and look for bullish candle stick pattern on the 1H or 15M which can show entry signs.
We have our Fibonacci retracement tool out and as we can see the .618 lines up perfectly with the zone so we could potentially use that as another sign of confluence if price pulls into that area.
Good luck trading!
Please see my GBPJPY trade idea attached.
Looking at GBPJPY on the higher timeframes such as the 4H & 1D we can see price is very bullish making very strong moves to the upside, with this being the case we will be looking for buy opportunities only.
With us using the 1D & 4H to get the directional basis I have dropped into the 1H which I have marked out the key zones in which price has reacted previously. With the areas marked up we can see price has made a strong push through previous resistance.
I would look for a pullback to the zone marked and look for bullish candle stick pattern on the 1H or 15M which can show entry signs.
We have our Fibonacci retracement tool out and as we can see the .618 lines up perfectly with the zone so we could potentially use that as another sign of confluence if price pulls into that area.
Good luck trading!
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