GBP/JPY Selling Opportunity
Weekly Timeframe:
This timeframe indicates a buying sentiment, however this is mainly because the previous weeks data is predominantly bullish.
That being said, the current weeks data has pushed price close the previous weekly lows which could be a hint that we may see some more sellers enter to create new lows for next week
Daily Timeframe:
This timeframe indicates a selling bias bias the precious days candle closed bearish with the current one also remaining a selling candle.
I am looking for the market to at least take out equal lows or move down even lower to create new lows.
H4 Timeframe:
This timeframe is displaying lower highs and lower lows which shows we are also in a sellers market overall. This is creating some nice price action to enter on the smaller timeframes.
30min Timeframe:
This timeframe, albeit in a bit of a range, is looking like potential sells could arise due to the new lows continually being made. I will be looking or a correction in price before a move down to meet the previous days lows or beyond.
This timeframe indicates a buying sentiment, however this is mainly because the previous weeks data is predominantly bullish.
That being said, the current weeks data has pushed price close the previous weekly lows which could be a hint that we may see some more sellers enter to create new lows for next week
Daily Timeframe:
This timeframe indicates a selling bias bias the precious days candle closed bearish with the current one also remaining a selling candle.
I am looking for the market to at least take out equal lows or move down even lower to create new lows.
H4 Timeframe:
This timeframe is displaying lower highs and lower lows which shows we are also in a sellers market overall. This is creating some nice price action to enter on the smaller timeframes.
30min Timeframe:
This timeframe, albeit in a bit of a range, is looking like potential sells could arise due to the new lows continually being made. I will be looking or a correction in price before a move down to meet the previous days lows or beyond.
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