Do not open any trades yet, wait for second high test. No trades have been opened yet, waiting for the confirmation.
GBPJPY has broken under the 4H 50 EMA and is failing to recover back on top of it. After a drop in prices, it recovered and did a high test (Prices pushing up in a short trend but failing to break the resistance (4H 50 EMA).
We can expect a drop and break of the 200 EMA to happen eventually. Wait for another high test (Green candle with tick only on top of body) to confirm this pair is going to drop. Once the pair makes another successful high test, we can short it and put our SL above the 4H 50 EMA.
Trade safe.
GBPJPY has broken under the 4H 50 EMA and is failing to recover back on top of it. After a drop in prices, it recovered and did a high test (Prices pushing up in a short trend but failing to break the resistance (4H 50 EMA).
We can expect a drop and break of the 200 EMA to happen eventually. Wait for another high test (Green candle with tick only on top of body) to confirm this pair is going to drop. Once the pair makes another successful high test, we can short it and put our SL above the 4H 50 EMA.
Trade safe.
Comment:
An important break will happen eventually as the prices are in consolidation between the 200 and 50 EMA. To keep an eye on.
Comment:
This trade is still not active. BOE Gov Carney Speaks one and a half hour from now which will make this pair get volatile. At it's current state, it is still undecided which direction it will take next.
Order cancelled:
As prices are pushing up and breaking the 50 EMA on the 4H, look for confirmation and buy the reversal back up.
Comment:
Back to bearish. Let's see if prices can't push back up.
If so, here's our last TP:
If so, here's our last TP:
Comment:
Beware, we're looking at the 15Min to confirm it can't break the 50 EMA. If it does, then we'd have a move back up.
Comment:
*15Min 200 EMA.