GBPJPY is ready to reverse?
GBPJPY / 4H
Hello traders, welcome to another market breakdown.
GBPJPY has been trading in a bullish trend, the price showed signs of reversal when the news about Russia attacking Ukrain was released.
Based on current price action, I expect 2 scenarios where I'll be watching over for next's week watchlist:
scenario 1: The price goes back to trade inside the rising channel, in this case, I'll be looking for an engulfing bar to get on.
scenario 2: The price takes the low and pulls back for a test before breaking down, in this case, I'll be looking to get in a short position targeting some important key levels.
Trade safe,
trader Leo.
Hello traders, welcome to another market breakdown.
GBPJPY has been trading in a bullish trend, the price showed signs of reversal when the news about Russia attacking Ukrain was released.
Based on current price action, I expect 2 scenarios where I'll be watching over for next's week watchlist:
scenario 1: The price goes back to trade inside the rising channel, in this case, I'll be looking for an engulfing bar to get on.
scenario 2: The price takes the low and pulls back for a test before breaking down, in this case, I'll be looking to get in a short position targeting some important key levels.
Trade safe,
trader Leo.
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