GBPJPY - Trend-Following Setup!
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 GBPJPY has been overall bullish, trading within the rising channel in blue.
Currently, GBPJPY is in a correction phase, approaching the lower bound of the wedge.
Moreover, it is retesting a strong support in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue 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
📈 GBPJPY has been overall bullish, trading within the rising channel in blue.
Currently, GBPJPY is in a correction phase, approaching the lower bound of the wedge.
Moreover, it is retesting a strong support in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue 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
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