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GBPJPY Sell Setup
British Pound / Japanese Yen
Short
GBPJPY Sell Setup
By jojofang0901
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Updated
Sep 8, 2020
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Sep 8, 2020
Hello traders:
Looking at GBPJPY for bearish continuation price action.
We see price was correctively moving up in this parallel type of ascending channel, and from the top we see price impulse out of the channel.
Such strong momentum, breaking out impulsively will require a correction structure to continue the sell.
I see two possible scenarios:
-Price either made a corrective push up, forming a potential right shoulder for the H and S pattern and sell from the top
or
-Look for continuation correction now and enter once we see a confirm breakout from that structure
Look for the lows of the higher time channel structure as a potential long term target.
Thank you
Sep 8, 2020
Comment
Sep 17, 2020
Comment
Waiting for this correction to complete
Sep 22, 2020
Comment
Look for more corrections to get in the sell down.
Chart Patterns
Flag
Parallel Channel
priceaction
structure
Wedge
jojofang0901
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