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 – LH at Role Reversal Level After Corrective Pullback | Apr 3rd
GBPJPY – Lower High After Corrective Pullback
Showing a little weakness after such an impressive bull run, the GBPJPY is now holding below the role reversal level, and the 20 ema on the 1hr chart. Flash to the 4hr chart and its holding above the 20 ema, but the bounce so far has been weak and possibly forming an LH (lower high).
If the role reversal level holds, bears can get short here with tight stops above. Downside targets are 172.19 and 171.79. If we get strong push above the role reversal level, then another attack on the swing highs just below 173 seems most likely.
Don’t miss our latest article on 4 Ways to Improve Your Trading
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.