GBPJPY Long Idea
Several things stick out to me...
1) It's at the bottom of the downtrend channel
2) It looks like it is about to complete its 5th wave
3)RSI is starting to become divergent showing that what/who is pushing price lower is getting weaker.
4)It's sitting at support levels from Aug '18 and '17 before they spiked long.
I watched this pair most of this morning and even though it took a dive down to 140.30 it was only for a short amount of time. I will be looking at this pair next week and start looking for an entry LONG.
1) It's at the bottom of the downtrend channel
2) It looks like it is about to complete its 5th wave
3)RSI is starting to become divergent showing that what/who is pushing price lower is getting weaker.
4)It's sitting at support levels from Aug '18 and '17 before they spiked long.
I watched this pair most of this morning and even though it took a dive down to 140.30 it was only for a short amount of time. I will be looking at this pair next week and start looking for an entry LONG.
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