GBP/JPY has tested resistance levels on the 1-hour and 4-hour charts, initiating a downward trend. Place a stop loss above 188.25, and set take profit levels as indicated on the chart.
According to Volume Spread Analysis (VSA), a high-volume bullish candle followed by a high-volume bearish candle that doesn't break the high of the bullish candle is a strong indication of a bearish movement. As long as the high remains unbroken, this setup is favorable for a short trade.
According to Volume Spread Analysis (VSA), a high-volume bullish candle followed by a high-volume bearish candle that doesn't break the high of the bullish candle is a strong indication of a bearish movement. As long as the high remains unbroken, this setup is favorable for a short trade.
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