British Pound Japanese Yen - GBPJPY - 10/09/2024
British Pound Japanese Yen - GBPJPY - 10/09/2024
Today, we were closely watching the Previous Daily High (PDH) as a key level. The plan was simple: if the price breaks above the PDH, we’d expect to see some bullish momentum, signaling buyers taking control.
Previous Daily High (PDH): If we break this level, it usually means the market is moving higher, and we should be prepared for a possible bullish run.
Resistance for the Day: As the day progressed, we noticed a resistance level forming, which was keeping the price from moving higher. This gave us an early signal that the upward push might be losing steam.
My Trade: Anticipating that the price wouldn't break the PDH and might reverse, I decided to take some sell positions, expecting the market to head lower from here.
Today, we were closely watching the Previous Daily High (PDH) as a key level. The plan was simple: if the price breaks above the PDH, we’d expect to see some bullish momentum, signaling buyers taking control.
Previous Daily High (PDH): If we break this level, it usually means the market is moving higher, and we should be prepared for a possible bullish run.
Resistance for the Day: As the day progressed, we noticed a resistance level forming, which was keeping the price from moving higher. This gave us an early signal that the upward push might be losing steam.
My Trade: Anticipating that the price wouldn't break the PDH and might reverse, I decided to take some sell positions, expecting the market to head lower from here.
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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.
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.