GBPJPY LONG SETUP

GBPJPY DAILY

MARKET IS FLAT. PRICE OPENED AT MM3 IN THE BEGINNING OF THE MONTH. PRICE HAS BEEN RANGING IN THE TRIANGLE BETWEEN MM3 & MM2. AS THE RANGE GETS TIGHTER, I EXPECT A BREAKOUT.

GBPJPY H4

MARKET IS SIDEWAYS. RESISTANCE IDENTIFIED AT WPP & WM3. SUPPORT IS IDENTIFIED AT WM2. STOCHASTICS HEADING UP.

GBPJPY H1

WE SAW PRICE FORM A DOUBLE BOTTOM BEFORE HEADING UP TO RESISTANCE AT DM3 WHICH COINCIDES WITH WPP. PRICE PULLED BACK TO IMMEDIATE RESISTANCE AT DPP. STOCHASTICS HEADING DOWN. I WILL WAIT FOR A PULL BACK IN THE FIB ZONE AND A OVERSOLD STOCHASTIC BEFORE GOING LONG, PREFERABLY A RETRACEMENT TO THE 61.8/DM2.

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