GBPJPY-Short ?
Updated
It seems like there appear some sell signals here for GJ
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1. Price signal : the price created lower low while in a UP Trend- this can be a first trend reversal signal.
2. Price rejection : The price rejected over the resistance area and closed with the bearish candles around this current zone.
3. Chart pattern : Combine the first and second explanation with the price structure, the pattern currently looks like a head and shoulder pattern.
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In my personal opinion, there are more chance for the price to go bear than bull at this time, nevertheless, nobody knows the future, therefore, trade responsibly at your own risk!
Good luck and have fun trading!
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1. Price signal : the price created lower low while in a UP Trend- this can be a first trend reversal signal.
2. Price rejection : The price rejected over the resistance area and closed with the bearish candles around this current zone.
3. Chart pattern : Combine the first and second explanation with the price structure, the pattern currently looks like a head and shoulder pattern.
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In my personal opinion, there are more chance for the price to go bear than bull at this time, nevertheless, nobody knows the future, therefore, trade responsibly at your own risk!
Good luck and have fun trading!
Note
The news events today suggest Bull trend and today is Friday, however, I still believe the price will not create a new high.
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