Good evening guys,
I've just hoped on the charts and GJ is looking very clean, if there's a perfect example of a break and retest, this is one lol!
166.0 is a huge area of resistance and we've absolutely smashed through it and this is after printing a double top so this really shows that buyers are in control of the market.
For this trade, I'm now waiting for price to come back down to 166. where I'm going to looking to take a buy, but first, I'm going to wait for a nice rejection which can be a depletion of selling pressure combined with buying pressure. We want wick rejections and bullish candles being printed then we will take a buy own this pair.
First and last TP will be the next level of resistance (168.)
I'm tired so hence the lack of information regarding support / resistance, candlestick patterns, Fibonacci's etc.
This trade is mainly supply and demand crossed with a standard break and retest - we don't need to overcomplicate things!!
I've just hoped on the charts and GJ is looking very clean, if there's a perfect example of a break and retest, this is one lol!
166.0 is a huge area of resistance and we've absolutely smashed through it and this is after printing a double top so this really shows that buyers are in control of the market.
For this trade, I'm now waiting for price to come back down to 166. where I'm going to looking to take a buy, but first, I'm going to wait for a nice rejection which can be a depletion of selling pressure combined with buying pressure. We want wick rejections and bullish candles being printed then we will take a buy own this pair.
First and last TP will be the next level of resistance (168.)
I'm tired so hence the lack of information regarding support / resistance, candlestick patterns, Fibonacci's etc.
This trade is mainly supply and demand crossed with a standard break and retest - we don't need to overcomplicate things!!