Looking for a bear flag formation before the major drop Please Note: Just knowing the direction of the next move will not help being profitable in the long run. There is a lot more to it with regards to the entry technique and trade management after entering the trade. If you look at my previous trades, 90% are impulsive moves covering about average of 80-100...
Price has clearly been forming a head and shoulder pattern and also it is inline with the HTF structure. Entry was after a bear flag was formed following 6-8hr candle. Its correlative pair GBPUSD is also inline with short setup (refer to my GBPUSD setup) Overall the R:R also fits my trade set-up.
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (139.65). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPJPY is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a...
#GBP/JPY make a buy formation with a falling wedge chart pattern .
Price is forming a falling wedge pattern. Hence looking to enter LONG Please Note: Just knowing the direction of the next move will not help being profitable in the long run. There is a lot more to it with regards to the entry technique and trade management after entering the trade. If you look at my previous trades, 90% are impulsive moves covering about...
Pound against Japanese yen, has completed the week rejection candle (Shooting star) in weekly chart, it indicates the price stopped go above the last week open, price may attracts towards 138.500 area .. note - price action analysis done only for education purpose, predictions are subjected to change..