GBP/JPY 4H Super Bollinger

17 Feb 2021

◆GBP/JPY 4H Super Bollinger

Please look at the attached chart.
This is GBP/JPY 4H Super Bollinger.

★ Analysis of the present market
GBP/JPY is in uptrend, as long as 4H Closing rate is above the plus 1 sigma line(upper green line).
If the closing rate is below this plus 1 sigma line, then GBP/JPY is likely to enter correction phase.
In correction phase the target will center line, minus 1 sigma line and finally minus 2 sigma line.

★Trade Plan
Keep GBP long position as long as closing rate is over plus 1 sigma line.
If closing rate is below plus 1 sigma line, then close long position.
And you can take small short position in corrective downward move.
Correction target will be center line, minus 1 sigma line, and finally minus 2 sigma line.