GBPJPY Buys
The market reaches 4H Support Zone
However , the market did not transition from the Downtrend so we wait until we see a transition happening before we look for entries.
Bearish Trendlines identified which was broken in confluence with a Resistance zone that was also broken and Retested
(15 M ,30M and 1H)
Bullish Engulfing (ENTRY)
DETAILS:
Entry - 161.863
Stop Loss: 161.476 (38.7 pips)
Take Profit: 166.206 (434.3 pips)
However , the market did not transition from the Downtrend so we wait until we see a transition happening before we look for entries.
Bearish Trendlines identified which was broken in confluence with a Resistance zone that was also broken and Retested
(15 M ,30M and 1H)
Bullish Engulfing (ENTRY)
DETAILS:
Entry - 161.863
Stop Loss: 161.476 (38.7 pips)
Take Profit: 166.206 (434.3 pips)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.