GBP/JPY 2 Intraday Scenarios

Morning Traders!

Price is doing a big acumulation just under what I see as a weak trend line and above a major H1 support level. As I see it there is not enough pips to trade between those levels.

I am waiting for the price to reach the trend line and see what happens from there.

If the price bounces from that small trend line, i will start looking for sells with my target on the major H1 support level (149,100).

If the price breaks out the small trend line, I will wait for a pullback and start looking for buys, with my targe on the next resistance level (150,000).

Good Trading Traders!

Kommentera:

First step completed. Waitting to see if it breaks or bounces.

For a valid break out a H1 candle should close above the trend line.

Kommentera:

Here we have the first price rejection at the trend line. Will it try to break out again?

Kommentera:

Here comes the H1 break out. I'll wait for a pull back and try to get in arround 149,630.

Kommentera:

Price broke too hard and the pull back was too small for me to get in, as yesterday couldn't get in.