GBPJPY potential buy
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I'm looking for something comparable as for a potential buy for GBPUSD. We really have to keep in mind what drives the Pound more than anything, which is fear as a result of Brexit. So I'm conservative and not guesstimating too much when it comes to longer term wave count on lower time frames because there are simply too many options on the table to share a high probability wave count.
So what's the plan?
I need to see at least a retrace back towards the zone shown by means of the black dotted horizontal trend lines.
If I see this happening in the shape of a consolidation and preferably with bullish divergence on lower time frames I will look for a potential buy towards 143.50 as first likely target.
Updates will follow
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
So what's the plan?
I need to see at least a retrace back towards the zone shown by means of the black dotted horizontal trend lines.
If I see this happening in the shape of a consolidation and preferably with bullish divergence on lower time frames I will look for a potential buy towards 143.50 as first likely target.
Updates will follow
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Nota
GBPJPY is comparable to EURJPY and USDJPY although it showes us a slightly different picture in the short term. So far the move lower from 143 looks corrective and in need of another leg higher. The process stays the same but keep an eye on these three Yen pairs when trading one of them. They are following each other at the moment so use that in your advantage.Nota
Wait for confirmation because price might trail higher and invalidate the sell set-up as long as we don't have a confirmation.
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