On
GBPJPY
, there is a clear uptrend. Price makes higher high and higher low. Uptrend also well-confirmed by 2 Trendlines, which consider as a Channel in this set-up. Those trendlines are dynamic support and resistance.
Price smoothly respecting trendlines, and it is more likely that it will do it again. It gives us a nice opportunity to go long.
In my opinion, If price hist upper trendline again, it could be wise to lock the profit, but more aggresive traders could stay in trade, until price is in channel and making higher high and higher low.
GBPJPY
, there is a clear uptrend. Price makes higher high and higher low. Uptrend also well-confirmed by 2 Trendlines, which consider as a Channel in this set-up. Those trendlines are dynamic support and resistance. Price smoothly respecting trendlines, and it is more likely that it will do it again. It gives us a nice opportunity to go long.
In my opinion, If price hist upper trendline again, it could be wise to lock the profit, but more aggresive traders could stay in trade, until price is in channel and making higher high and higher low.