Trade plan 28 September 2016
GBPJPY Daily

-Daily chart Price Action Price failed to break through the 129.500 psyc level forming a descending triangle followed by lower highs which is an indication of a possible break through in the downside Stochastic is currently oversold Market The 55 and 21 Moving average indicate a strong bearish market
GBPJPY H4

-H4 chart Price Action Price has complete a full harmonic patten which confirms future bullish movement with a bounce off weekly support WS1 Stochastic is heading to the overbought zone Market The consist of a great angle of separation between the 55 and 21 moving averages which confirms the bearish trend
GBPJPY H1

-H1 chart Price Action Price bounced off the daily pivot point DPP and is currently at DM2 Market The 55 and 21 Moving average cross has occur indicating a bullish market forming Planned Entry >Planned entry for Pound bulls Looking for a pull back on the H1 chart to the 130.500 psyc support level with a role reversal on the M15/M5 >Planned entry for Yen Pip domination Bears >Patiently waiting for price to get to the 135.000 psyc levels than aggressively sell
About The Post
About The Forex Analyst
Two years experience in trading the foreign exchange market and a B.com economics Student
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