GBPJPY - Trend Continuation - EASY Trade Setup
Hi Traders!
As you can see the market is in a downtrend.
The market made a big bearish trending move.
It started around 145.000 and has fallen to the area of 124.000.
During this session the market respected the 20MA.
After that the retracement move started.
The market has risen until the resistance area at 134.000.
Now the market is consolidating in a tight range.
It is moving around the 20MA.
This is a good setup for many traders, because the more "tight" a market moves, the more "explosive" are the Breakouts.
That's why we recommend to take the trade during high momentum.
BONUS SETUP: There are also chances that the market makes a trend change.
If the market is going to do so, it'll have the break the consolidation area to the upside.
So, if the market has enough momentum we'll buy the breakout upwards ;)!
Thanks and good luck :)!
As you can see the market is in a downtrend.
The market made a big bearish trending move.
It started around 145.000 and has fallen to the area of 124.000.
During this session the market respected the 20MA.
After that the retracement move started.
The market has risen until the resistance area at 134.000.
Now the market is consolidating in a tight range.
It is moving around the 20MA.
This is a good setup for many traders, because the more "tight" a market moves, the more "explosive" are the Breakouts.
That's why we recommend to take the trade during high momentum.
BONUS SETUP: There are also chances that the market makes a trend change.
If the market is going to do so, it'll have the break the consolidation area to the upside.
So, if the market has enough momentum we'll buy the breakout upwards ;)!
Thanks and good luck :)!
It seems like the market want to trigger the "BONUS SETUP".
Instead of moving downwards, it is testing the Retracement.
Let's wait and see...
Have a nice day :)