GBPJPY - Trend-Following Long!

7 Nov

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 GBPJPY has been overall bullish, trading within the rising channel in red.

Currently, GBPJPY is in a correction phase, so the lower bound of the channel would act as support.

Moreover, the green zone is a strong structure.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green structure and lower red trendline.

📚 As per my trading style:
As #GBPJPY approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich