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GBPJPY Trade Setup (Oct 26)

Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today

Dear the Beast Lovers –

I am sure you are looking for another Long opportunities.

Typically, I would suggest to buy from 21EMA or even from 55EMA, or Fibonacci 38.2-61.8%, or from WPP.

However, as you can see below (H4 chart), I see a small Bearish Divergence on Stochastic.

Thus I am expecting to see a little deeper pullback, down to the Role-Reversal Support at 184.50-184.70 area.

If you are scalper, I suppose you could short this pair.


However, to be on the safe side, I would suggest to wait until the price comes down to this Support area, confirm the reversal pattern on the smaller timeframe, then buy!!




Hope this observation helps you build your own trade setup.



YJ Baik – Forex.Today @ Tokyo


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