GBPJPY 30min Analysis December 28th, 2020
Price has retraced back to our key weekly level and the 30min 200MA.
Trade Scenario 1: Bullish - For us to look long we need to see price break out of our descending channel and form a clear HL above 139.90. Enter on bullish engulfing/variations.
Trade Scenario 2: Bearish - For us to look short we need to see price break below the key weekly level and 200MA on the 30min time frame. We will then look for a clear LH at or below the weekly level at 139.50
Trade Scenario 1: Bullish - For us to look long we need to see price break out of our descending channel and form a clear HL above 139.90. Enter on bullish engulfing/variations.
Trade Scenario 2: Bearish - For us to look short we need to see price break below the key weekly level and 200MA on the 30min time frame. We will then look for a clear LH at or below the weekly level at 139.50
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.