GBP/JPY _ 2nd week of Feb 2021

2021年2月8日

The price indicate strong bullish momentum from higher TF (Monthly, Weekly and Daily)

Monthly & Weekly TF = Price is currently at the resistant area and i would love to see some retracement at these TF as there is no sell/red candle forming since last Nov 2020.

Daily = The long wick + bullish candlestick rejecting the support trendline followed by two bullish candle formed after the rejection. I would love to see some retracement to recent/minor support at this TF

4H TF = my idea for buy position would be at :

a. The retracement period to the minor support/support trendline if the price rejecting the current resistant area

b. If the price break the resistant area, i would probably looking for entry position at the retest area

* its best to look for the price action before we take any position with proper RR and lot sizes. The chart is solely based on my observation from a technical perspectives. Any news or fundamental impacting the movement of market is beyond of my comprehension

2021年2月10日

交易進行

The price is currently heading towards my direction:

1. Price rejecting the key resistant area and head towards the minor support at 144.067

2. Price is currently break the minor resistant trendline structure and heading upwards

I would hold my position with SL at the previous minor support level