GBPJPY is showing signs of bullish pressure to come. Price appears to be forming a possible bullish flag on a 4HR timeframe near to a strong supportive trendline. Furthermore, there is a local demand zone around the 134.000 zone, improving the odds. Traders who are looking to open a long position can place a stop loss below the supportive trendline and the local demand zone if they wish to go long at market execution (high risk). A more conservative approach would be to wait for a break and retest of the resistive trendline.
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Best of luck traders!
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated.
Best of luck traders!
交易進行
Long positions were opened and traders are now in very good sized profits. Profits will be locked, partial profits taken and remaining positions held.
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