GBPJPY - Long Entry
GJ: if you are already in the trade or you want to join, this is my analysis for Entry
- Trend line retest
- 200Ma retest (not in the chart to make it simple)
- Golden zone of the small impulse (61.8 fib)
- 38.2 Fib level of the large impulse
- nice Support area (Broken resistance)
- bullish Gartley in Execution to the next Major Quarter point Q500
NB: the Bearish Bat can push the price down since it's formed at a Major Quarter point Q250
WAIT FOR CONFIRMATIONS:
- Hidden divergence: the RSI should give a LOWER LOW while the chart will give a HIGHER LOW or a double bottom
- price action
RR ratio 1/6: 50/300.
- Trend line retest
- 200Ma retest (not in the chart to make it simple)
- Golden zone of the small impulse (61.8 fib)
- 38.2 Fib level of the large impulse
- nice Support area (Broken resistance)
- bullish Gartley in Execution to the next Major Quarter point Q500
NB: the Bearish Bat can push the price down since it's formed at a Major Quarter point Q250
WAIT FOR CONFIRMATIONS:
- Hidden divergence: the RSI should give a LOWER LOW while the chart will give a HIGHER LOW or a double bottom
- price action
RR ratio 1/6: 50/300.
Trade closed manually
Bearish momentum
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