GBPJPY Will it Hit the 618?
Updated
Ben watching this Bearish Flag take shape and as it stand sits currently bouncing inside this channel.
If we are looking at possible places to enter I would be looking at either a break down below the trend line on the higher time frames or a possible rise up to the 618 area and then look for bearish structure to go short.
As it stands I called it wrong and the price has continued to rise, however we are now lookign at teh oversold area of the RSI but It could bounce around for a few more days / week before a confirmed change in trend
If we are looking at possible places to enter I would be looking at either a break down below the trend line on the higher time frames or a possible rise up to the 618 area and then look for bearish structure to go short.
As it stands I called it wrong and the price has continued to rise, however we are now lookign at teh oversold area of the RSI but It could bounce around for a few more days / week before a confirmed change in trend
Note
Hit the 618 retacement so order filled and now short
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