The GBPJPY pair has been trading within a 5-month Channel Up and yesterday hit exactly its bottom (Higher Lows trend-line). That is marginally above the 1D MA100 (green trend-line), which has been the market's Support since May 08.
As long as it holds, we expect the Channel Up to make another standard V-shaped rebound, similar to both previous ones, and target the Resistance level at 201.200.
A candle closing below the 1D MA100 though, would be a sell signal, targeting the 1D MA200 (orange trend-line) on the Support 1 level at 195.050.
The current price level at the bottom of the pattern offers low risk on a tight SL both in the event of a rebound and break-out to the downside.
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As long as it holds, we expect the Channel Up to make another standard V-shaped rebound, similar to both previous ones, and target the Resistance level at 201.200.
A candle closing below the 1D MA100 though, would be a sell signal, targeting the 1D MA200 (orange trend-line) on the Support 1 level at 195.050.
The current price level at the bottom of the pattern offers low risk on a tight SL both in the event of a rebound and break-out to the downside.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。