Resistance-Turned-Support !

-Sup, bros ! I’m kickstarting this week’s with GBP/JPY if you remember last week we dig out 100+ pips longing, we might get out of the market early but I believe we could have another long order position around 149.30., gather more bulls in to push the price higher.
-As you can see we have a resistance turned support right smack on 50% fibonacci retracement.
-Buying at current levels could still get you a pretty sweet deal especially if you aim for the previous highs near 151.30.
-In any case, make sure y’all have wide stops, if you don't like mine aight? Remember that crosses like these tend to see more volatility than the majors!

Commentaire:

That's it gor this order we are already behind, i was waiting uj from early morning to retest previous level of demand as a support, cause as i told you before all yen crosses are highly correlated to uj, so when uj dive to it gj couldn't the same for our trade cause the pair breaks above a resistance line of a rising channel and use it as a support, as i'll explain this in the charts :
uj

instead of doing the same on gj but with more pips to catch this is what happened
gj

Commentaire:

Ordre annulé

Commentaire:

as a confirmation take a look what happened on ej? looks familiar right !