BluetonaFX - GBPJPY Failed Bull Flag SHORT Idea
Updated
Hi Traders!
There is a potential failed bull flag opportunity on the GBJPY 1D chart. The flag looks like it has failed to continue the bullish momentum, and the price action now looks bearish.
The market has broken below our 20 EMA, and the swings are getting lower with lower highs and lower lows. The pattern is turning into a bearish ascending channel. As long as we remain under the 20 EMA, we have a bearish outlook and will look for short entries with the aim of exiting at the support area between 181.597 and 181.220.
Trade safely and responsibly.
BluetonaFX
There is a potential failed bull flag opportunity on the GBJPY 1D chart. The flag looks like it has failed to continue the bullish momentum, and the price action now looks bearish.
The market has broken below our 20 EMA, and the swings are getting lower with lower highs and lower lows. The pattern is turning into a bearish ascending channel. As long as we remain under the 20 EMA, we have a bearish outlook and will look for short entries with the aim of exiting at the support area between 181.597 and 181.220.
Trade safely and responsibly.
BluetonaFX
Trade active
Market is still closed under 20 EMA which is confirmation for entryTrade closed: target reached
Trade complete
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