Hello Traders,
GBPJPY Update
As you can see, I’ve marked the 50% retracement level of the recent high and low (green point). The first move didn’t respect this 50% zone, which is why the second move gained strength and turned the 50% level into a support area. Additionally, we can observe liquidity building up above this zone.
If we see strong bullish momentum, we’ll look for a long opportunity. Always remember to manage your risk carefully. For precise entries, use lower timeframes like the 5M or 15M.
Wishing you all the best and happy trading!
GBPJPY Update
As you can see, I’ve marked the 50% retracement level of the recent high and low (green point). The first move didn’t respect this 50% zone, which is why the second move gained strength and turned the 50% level into a support area. Additionally, we can observe liquidity building up above this zone.
If we see strong bullish momentum, we’ll look for a long opportunity. Always remember to manage your risk carefully. For precise entries, use lower timeframes like the 5M or 15M.
Wishing you all the best and happy trading!
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.
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.