GBPJPY H4
Same concept as GBPAUD but over here we are waiting for a clear movement of the pair itself. The H4 previous candle printed a long upperwick/shadow, showing some strength of the bears. We COULD see a drop below to the TL and bounce from there then it starts to head up. Right now, to be safe, wait for the bounce of the TL or wait for a bullish candle to print then place an order. TP would be at the most touched S/R. In this case it is at the H4 Resistance at 142.130
If it ends up breaking the TL , we will be placing a sell on the pair.
Same concept as GBPAUD but over here we are waiting for a clear movement of the pair itself. The H4 previous candle printed a long upperwick/shadow, showing some strength of the bears. We COULD see a drop below to the TL and bounce from there then it starts to head up. Right now, to be safe, wait for the bounce of the TL or wait for a bullish candle to print then place an order. TP would be at the most touched S/R. In this case it is at the H4 Resistance at 142.130
If it ends up breaking the TL , we will be placing a sell on the pair.