GBPJPY: Trade Opportunities for Buyers and Sellers
The market has been moving upside in the borders of a price channel. Now we can see a correction wave in the bullish structure. The price is not far from the support zone, which is formed by 132.00 support and the uptrend line. The price action in this zone will be able to give us trade opportunities for buyers and sellers.
If the price bounces from the support zone, it will be a buying opportunity in the direction of the main uptrend. Buyers should search for exact entry points using the daily and hourly timeframes. Stop orders must be placed below the local swing low.
If the price breaks the support zone, it will be a trend reversal signal. Sellers will get the opportunity to trade in the direction of the breakout. Stop orders must be placed above the uptrend line and the local swing high.
Risk for all trades must be no more than 1-2% from the trading capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price bounces from the support zone, it will be a buying opportunity in the direction of the main uptrend. Buyers should search for exact entry points using the daily and hourly timeframes. Stop orders must be placed below the local swing low.
If the price breaks the support zone, it will be a trend reversal signal. Sellers will get the opportunity to trade in the direction of the breakout. Stop orders must be placed above the uptrend line and the local swing high.
Risk for all trades must be no more than 1-2% from the trading capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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