Hello everyone! This post is covering the GBPJPY on MTF using the Professor setup
- GBPJPY Monthly Timeframe
- Possible Double Bottom Pattern *key reversal price action setup
- Price is in a consolidation period following a downtrend
- Key Level Breaks (with candle body hold, not wick):
- Long – 152.030 with target zones of – 156.607 – 185.507
- Short – 124.656 with target zones of – 116.812
- GBPJPY Weekly Timeframe
- Possible Double Bottom Pattern *key reversal price action setup
- Price is in a consolidation period following a downtrend
- Key Level Breaks (with candle body hold, not wick):
- Long – 144.948 with target zones of – 147.170 – 156.607
- Short – 124.656 with target zones of – 116.812
- GBPJPY Daily Timeframe
- Price is in a consolidation period following an uptrend
- Key Level Breaks (with candle body hold, not wick):
- Long – 135.665 with target zones of – 137.75 – 140.645
- Short – 133.6 with target zones of – 132.714 – 127.877
- GBPJPY 4 Hour Timeframe
- Price is in a consolidation period following an uptrend
- Key Level Breaks (with candle body hold, not wick):
- Long – 135.070 with target zones of – 136.00 – 139.420
- Short – 133.320 with target zones of – 132.014 – 129.844
- GBPJPY 1 Hour Timeframe
- Price is in a consolidation period following a downtrend
- It has formed a triangle trend with lowered momentum
- Key Level Breaks (with candle body hold, not wick):
- Long – 134.735 with target zones of – 135.015 – 135.295
- Short – 134.175 with target zones of – 133.980 – 133.704
Cheers to another successful week!