GBPJPY LONG TRADE

16 janv. 2020

-GBPJPY has been consolidating between 142.500 and 143.300 and ive been keeping an eye on the 143.500 zone to pick a long trade.
CANDLE 1
-once the 143.300 level was broken on the H4 timeframe the first candle closed below 143.300. that was the first signal.
CANDLE 2
-Next candle closed above143.300 zone which was a good confirmation of the break out of the consolidation zone.
CANDLE 3
-The third candle was the second confirmation candle of a the break out . The candle retested the broken resistance and now support and closed bullish above the 143.300.
-I took the trade on the 4th candle.
-STOP LOSS level was placed belove the previouse H4 candle which is 40 pips away.
looking towards the left side of the chart, there is little to no resistance but i have my eyes on 144.00 and 144.400 as potential buy zones a well as the market heads to 145.00 and above.
lets wait out and see how the tarde plays out........