GBPJPY - THE RULE OF SUPPLY AND DEMAND IN OUR FAVOR?

21 thg 5, 2019

GBPJPY seems like a good short term buy due to a bounce off of the trendline that it is respecting. Also due to the high sell of of this pair that went for a while, it is oversold and thus needs a pullback before continuing it's momentum - REMEMBER THE RULE OF MARKETS - SUPPLY AND DEMAND. I am looking to take profit of 100 pips at around 140.7 though I will be taking partial profits at around 40 pips.

21 thg 5, 2019

Ghi chú

ALSO just to add to the idea, it looks like we are forming double bottoms and also broke out of a high momentum downward channel. The price is also at a support that was not broken with a good momentum and could be a fakeout. The stop loss is at 139.55