GBPJPY Structure completion here?
Hi everyone:
GBPJPY just like other JPY pairs have shape up for a nice sell opportunity.
We see price dropped down from previous continuation structure, and begin to form a large, deep correction structure.
As price slowly correct itelf up toward the top of the structure, we see an expanding ascending channel, also giving us extra confluence for a reveral.
The last bit of price action had a short move up but quickly retraced back down to form a smaller correction on lower time frame.
I would look to enter when price confirmed a breakout from this small structure.
Looking to the lows of the larger structure on the higher time frame.
Thank you
GBPJPY just like other JPY pairs have shape up for a nice sell opportunity.
We see price dropped down from previous continuation structure, and begin to form a large, deep correction structure.
As price slowly correct itelf up toward the top of the structure, we see an expanding ascending channel, also giving us extra confluence for a reveral.
The last bit of price action had a short move up but quickly retraced back down to form a smaller correction on lower time frame.
I would look to enter when price confirmed a breakout from this small structure.
Looking to the lows of the larger structure on the higher time frame.
Thank you
Note
higher time frame:Note
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Related publications
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.