GBPJPY Big Drop is ahead ( Lower degree correction and sell )
Updated
Hi there,
We were long on the GBPJPY from bottom and in the middle of the GBPJPY. Looks like the bullish wave is about to end and now time to look for short on the GBPJPY.
How we can trade on this chart.
We are having very nice strong bearish impulse just watch for the retracement against that on lower time frame and look for that correction to breakdown.
You can get in the market before the breakdown or on breakout.
In case price close above the previous high that it will change the bearish setup.
If we are not going to see downside continuation and price is going to turn into a bigger daily correction then we will look for buy back to the previous high.
Hope that will help. If not then follow the updates.
Good Luck
We were long on the GBPJPY from bottom and in the middle of the GBPJPY. Looks like the bullish wave is about to end and now time to look for short on the GBPJPY.
How we can trade on this chart.
We are having very nice strong bearish impulse just watch for the retracement against that on lower time frame and look for that correction to breakdown.
You can get in the market before the breakdown or on breakout.
In case price close above the previous high that it will change the bearish setup.
If we are not going to see downside continuation and price is going to turn into a bigger daily correction then we will look for buy back to the previous high.
Hope that will help. If not then follow the updates.
Good Luck
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