The 4-hour structure on GBP/JPY has turned bullish following a strong upward move that flipped the previous structure after several days of consolidation and limited volatility.
Price has now entered a Demand zone and is likely to retrace toward the 197.500 level, which aligns with a key psychological handle.
This area may present a high-probability trading opportunity, depending on how price reacts. We'll monitor for confirmation before entering a position.
Price has now entered a Demand zone and is likely to retrace toward the 197.500 level, which aligns with a key psychological handle.
This area may present a high-probability trading opportunity, depending on how price reacts. We'll monitor for confirmation before entering a position.
Order cancelled
As you can see, at the end of the post I wrote - we will monitor price before entering position. Monitoring the price helped not being in the position, avoiding the loss.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.