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Wednesday, May 25, 2022

GBPJPY Trendline Analysis

gbpjpy at higher low in 30 min

GBPJPY is moving in an Uptrend forming higher highs, higher lows in 30-minute chart.

After GBPJPY reaching the bottom zone of the uptrend, GBPJPY buy signal is given to the Supreme Users.

However, GBPJPY market not made enough movement within our expected time for this short term trade.

So, we recommend our users to exit GBPJPY trade at Entry price level.

Reason: Market doesn’t reach our Target within the expected time.

We don’t want our users to wait for a long time without enough volatility, we always want you to hold your profitable trades long time.

Fake Breakout and the Good Buy Opportunity

Some of the users asked this question, We really appreciate it and answered them with examples.

Question: GBPJPY is moving down and it looks like breakout happened at the higher low of the 30-minute chart?

You told us to Buy GBPJPY until 136.50, how exactly you told us to Buy at that accurate price?

The answer is simple. We have a tight stop loss around 136.20, our take profit is around 137.07

Breakouts are confirmed by the continuous bull or bear candles closes over the resistance or support level. 

Here, In the 30-minute chart, the first bear candle closes below the higher low of the uptrend line, but the next candle is a big bull candle which closes above the previous bear candle.  This shows that “the breakout at the bottom (higher low) is the fake breakout.

How to confirm the breakout in trading? check here.

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