Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
GBPJPY – Breakout Formation In Play After Intra-day Volatility (4hr chart)
Price action intra-day for this pair was a volatile one today. Intra-day the pair was bought up just above 185 and the dynamic support in the 20 EMA. The pair bounced off the lows regaining most of the intra-day losses, so bids were relatively un-phased by the heavy selling, still wanting to trade with the trend.
The overall breakout formation is still in play and the pair is now holding above 185.95/186. Any corrective dips into the lower 185 area could be considered a buying opportunity with a tight stop below the daily lows. Note the pair is holding above 186 over the last 10+ hours.
Upside targets remain …... Keep reading