GBPJPY | Consolidation Level | Long Potential

22. Feb. 2023

Hi everyone! I'm excited to share my latest trade idea with you. With the right proper management strategy these trades can turn out great. So, let's start looking at this trade.
A broader perspective can be seen below.

Currently, the price is able to penetrate the top of the consolidation zone (white circle), and this is a consideration for me that there is an opportunity to open a position, and also the possibility that the price will go towards the supply zone which I marked with an arrow.


I jumped to the m15 timeframe, I found the demand zone which was formed from the source of the price explosion that was able to penetrate the consolidation zone, and maybe there could be a good place to open long positions.

Note:
This trade idea is only according to my personal perspective, which of course can be positive or negative, so be wise and don't just blindly believe in this idea.
When considering to trade, it is important to take your time and do your research and be aware of your personal emotions and biases when entering into any trades.

Good Luck!