GBPJPY Multi Timeframe Analysis
** Guide:
- Yellow = represents "weekly" time frame
- Blue = represents "daily" time frame
- Green = represents "4-hour" time frame
After hitting and bouncing down the weekly resistance, it seems the trend in this spot is more bearish.
However, there are two scenarios:
- The 1st scenario, which is bearish happens is the breaks through the weekly (yellow) trend line, and after a pullback, we can go for a short position.
- The 2nd scenario is the weaker one (bullish) and it is triggered when it breaks through the 4-hour trend line, when the pullback is complete, then we can go for a long position.
- Yellow = represents "weekly" time frame
- Blue = represents "daily" time frame
- Green = represents "4-hour" time frame
After hitting and bouncing down the weekly resistance, it seems the trend in this spot is more bearish.
However, there are two scenarios:
- The 1st scenario, which is bearish happens is the breaks through the weekly (yellow) trend line, and after a pullback, we can go for a short position.
- The 2nd scenario is the weaker one (bullish) and it is triggered when it breaks through the 4-hour trend line, when the pullback is complete, then we can go for a long position.
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