GBPJPY still has strong uptrend. You can see, only 20 EMA in the picture below has a red color (red color mean weak).
2. Price Divergence
Now i removed all the moving average and add MACD in to the chart. It's look better.
Because one of our MA is going down, we need a price divergence to fight it. Divergence mean your indi and the price have a different path. Now let see again GBPJPY price movement:
My MACD is making a lower low, but GBPJPY weekly price movement making a higher high.
Based on this two reason so in the opening today i open a long position. Your stop loss must at the recent low of the MACD.
Enjoy your trade!
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