Hi everyone:
Here on GBPJPY, from the higher time frame, price is currenting developing the right shoulder of the H & S pattern.
We can then see on the lower time frame, price is in a larger expanding structure, correcting the price with a few swing highs and lows.
A lower time frame ascending channel pushing up the price, and a sharp reversal impulse down.
Good indication of the bearish price action in the making.
Latest price also formed a LTF bearish continuation correction,
so be on the look out for further downside if price formed more smaller correction along the way to the previous lows.
thank you
Note
Watch for further LTF bearish correctionNote
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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.