GBPJPY: Some Longer Term Analysis (Long & Short)
I apologize for the sloppy chart but this was the trade that I recently discussed in my Forex market Preview video & didn't want to erase anything just yet. (Link to my youtube page is in the "signature" box below)
But essentially there are two potential trading opportunities that I have my eyes on for this pair. A potential counter trend trade (SHORT) if the market were to make it's way up to previous structure resistance.
And a trend continuation trade (LONG) if we were to see some relief, in anticipation of a continued move up towards previous structure resistance.
Either way i'm predicting that the market has room for more bullish movement, the question is "How Will It Get There?" and How/IF I will be able to get involved. We shall see!
But essentially there are two potential trading opportunities that I have my eyes on for this pair. A potential counter trend trade (SHORT) if the market were to make it's way up to previous structure resistance.
And a trend continuation trade (LONG) if we were to see some relief, in anticipation of a continued move up towards previous structure resistance.
Either way i'm predicting that the market has room for more bullish movement, the question is "How Will It Get There?" and How/IF I will be able to get involved. We shall see!
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