GBPJPY ANALYSIS
WE CURRENTLY HAVE A BROKEN TREND LINE WHICH AT THE MOMENT IS DECIDING WHERE TO GO
FACTS TO TAKE IN COUNT:
- THE LOWER TREND LINE HAS BEEN TESTED MORE TIME, MEANING THAT THE SELLERS ARE STRONGER
- 4H GREEN SUPPORT LEVEL HAS BEEN TESTED, REPRESENTING A MEANINFUL LEVEL OF CONFLUENCE.
- THE MARKET HAS NOT BEEN ABLE TO MAKE HIGHER HIGHS
- THE MARKET IS CURRENTLY PENETRATING OUR 50EMA
WE WILL WAIT FOR THE LOWER LEVEL OF STRUCTURE TO BE BROKEN AND THEN LOOK OUT FOR TRADING OPPORTUNITIES.
FACTS TO TAKE IN COUNT:
- THE LOWER TREND LINE HAS BEEN TESTED MORE TIME, MEANING THAT THE SELLERS ARE STRONGER
- 4H GREEN SUPPORT LEVEL HAS BEEN TESTED, REPRESENTING A MEANINFUL LEVEL OF CONFLUENCE.
- THE MARKET HAS NOT BEEN ABLE TO MAKE HIGHER HIGHS
- THE MARKET IS CURRENTLY PENETRATING OUR 50EMA
WE WILL WAIT FOR THE LOWER LEVEL OF STRUCTURE TO BE BROKEN AND THEN LOOK OUT FOR TRADING OPPORTUNITIES.
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