GBP/JPY *Description Below*
* Entry :
(1) GBP showing weakness across the board
(2) Break of trend market is still overall bearish on higher timeframe
(3) Double Top
(4) RSI Divergence (market has been trending up and RSI in the opposite direction)
(5) Market has now come to 618 retracement (strong level of resistance)
(6) Combined with structure
* Stop : ATR based stop or above the highs depending on risk appetite
*Target : 1.618 extension for initial target
(1) GBP showing weakness across the board
(2) Break of trend market is still overall bearish on higher timeframe
(3) Double Top
(4) RSI Divergence (market has been trending up and RSI in the opposite direction)
(5) Market has now come to 618 retracement (strong level of resistance)
(6) Combined with structure
* Stop : ATR based stop or above the highs depending on risk appetite
*Target : 1.618 extension for initial target
Trade active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.