Greetings Forexia Crew, as you see form the chart of GBPJPY that the pair has been down trending. However, the pair started to consolidate and formed a support, where people start to buying the pair. While, i believe its just another manipulation to keep pushing down the pair. As you can see that the pair has not showed profits to buyers. I believe the possible scenario may play out during the London open.
The reason to have such beliefs is that a lot of people might start buying above the zone thinking of reversal. I will be observing the pair to get any entries on DMA.
NEVER FORGET TO USE PROPER MONEY MANAGEMENT AND LOT SIZES.
If you like similar price projections and DMA, join Forexia Academy Here
The setup worked perfectly, although it did do what we expected. But the GBPJPY gave a nice DMA entry. Caught the 90pips with TP, however, the pair dropped like 550pips.