Long GBPJPY on daily doubble bottom
This setup come from the following indicators.
1. Monthly candle still in uptrend since 2012. and keeping up.
2. Daily candle create double bottom/and following by bullish engulfing. (as indicated by Blue Box)
3. Price action stay above Light-Blue line ( 1/2 line ) on both Gann Fan.
Setup configuration ::
[ LONG @ 179.00 ] (As point by Purple box)
This number come from an attempt to catch bullish engulfing/and double bottom point by Blue box.
[ STOP @ 177.00 ] (As point by RED box)
This number come from daily candle that following the bullish engulfing as point by Blue Box
( If price "go below" this level it mean there is not "up trend" anymore. and long positions should be exited)
[ TARGET 1 @ 200 ] (As point by Orange Box)
This number come from support/resistance during 2003 - 2006, and again in 2008 - 2009. as well as intersection point of 1/2 of both Gann fan.
1. Monthly candle still in uptrend since 2012. and keeping up.
2. Daily candle create double bottom/and following by bullish engulfing. (as indicated by Blue Box)
3. Price action stay above Light-Blue line ( 1/2 line ) on both Gann Fan.
Setup configuration ::
[ LONG @ 179.00 ] (As point by Purple box)
This number come from an attempt to catch bullish engulfing/and double bottom point by Blue box.
[ STOP @ 177.00 ] (As point by RED box)
This number come from daily candle that following the bullish engulfing as point by Blue Box
( If price "go below" this level it mean there is not "up trend" anymore. and long positions should be exited)
[ TARGET 1 @ 200 ] (As point by Orange Box)
This number come from support/resistance during 2003 - 2006, and again in 2008 - 2009. as well as intersection point of 1/2 of both Gann fan.
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