GBPJPY on a break of the 160 ðĶ
GBPJPY on the 4h chart is trading above the 160 level.
We know how this pair particularly love the round numbers and we can wait for a potential break of it to look for a short opportunity.
The price in fact after the uptrend move took the liquidity at the 166 level with a false breakout move with the 164 and 162 as ket levels in the downtrend.
After a first test of the 160 the price tested the 162 resistance area and moved higher to the 0786 Fibonacci retracement to the 163 zone.
How can i approach this scenario?
I will wait for a potential break of the support area and if that will happen i will be look for a nice short order according to the Plancton's strategy rules.
We know how this pair particularly love the round numbers and we can wait for a potential break of it to look for a short opportunity.
The price in fact after the uptrend move took the liquidity at the 166 level with a false breakout move with the 164 and 162 as ket levels in the downtrend.
After a first test of the 160 the price tested the 162 resistance area and moved higher to the 0786 Fibonacci retracement to the 163 zone.
How can i approach this scenario?
I will wait for a potential break of the support area and if that will happen i will be look for a nice short order according to the Plancton's strategy rules.