We've been following the structure of this pair for a while now, so everyone following should have an understanding of both the direction and the size of the next movement for
GBPJPY
If you have missed the reversal at the top and the small flag consequent to the first small impulse to the downside, now is your chance of entering the trade, as the pair is breaking the bigger corrective flag structure on the 4hr timeframe. Watch your sizes, as the stop loss should be above said structure (above 150.03). Target at least in the daily trend line re test area (143.5)
Please check our updates both on the higher and lower timeframes, and don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Remember that you can double check the bigger structures that are at play are on higher timeframes, also by scrolling around the charts in the lower timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential losses you might need to accept before finding a good trade.
Thank you for viewing.
GBPJPY
If you have missed the reversal at the top and the small flag consequent to the first small impulse to the downside, now is your chance of entering the trade, as the pair is breaking the bigger corrective flag structure on the 4hr timeframe. Watch your sizes, as the stop loss should be above said structure (above 150.03). Target at least in the daily trend line re test area (143.5)
Please check our updates both on the higher and lower timeframes, and don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Remember that you can double check the bigger structures that are at play are on higher timeframes, also by scrolling around the charts in the lower timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential losses you might need to accept before finding a good trade.
Thank you for viewing.