GBPJPY Support n Resistance 061119
Price has broken above wedge trendline, tested the red horizontal resistance and is currently retesting upper wedge trendline.
If price can close above red horizontal resistance zone we could see price moving higher to Black dotted line b4 making a retracement to retest red horizontal resistance (turned support) to head to our TPZ1 n TPZ2.
Alot if 'IFs' here, but that's the plan if prices break through.
The wait and monitoring begins...
Look only for Longs, wait for pullbacks to enter.
If price can close above red horizontal resistance zone we could see price moving higher to Black dotted line b4 making a retracement to retest red horizontal resistance (turned support) to head to our TPZ1 n TPZ2.
Alot if 'IFs' here, but that's the plan if prices break through.
The wait and monitoring begins...
Look only for Longs, wait for pullbacks to enter.
Note
Prices have finally broken through. And as expected, prices halted around the black dotted line (zone) on a H4 candle. The current pullback, hopefully to the red line support will create a chance to add to Long positions.
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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.