GBPJPY 138.103 - 0.36 % LONG IDEA * CONTINUATION PATTERNS
Updated
Good Day Everyone
A look at the GBPJPY pair from some multiple time-frames starting of with the monthly time-frame/
1. MONTHLY
One the monthly the pair is currently trading in a descending channel currently at the roof of this structure.
We saw a strong momentum push with the bulls but closed with a bearish doji but we are at the beginning of the month so this will definitely change.
the pair is currently at the roof of structure respecting the descending channel and triangle structures.
2. WEEKLY
From the weekly the sentiment still more or less the same, still within the descending structure.
The pair formed a double top at resistance level 139.802 respecting both the descending channel and descending triangle.
Looking for a move with the bears on the pair for the structure to hold unless we see a break of the descending structure expecting structure to hold and see a move with the bears.
3. DAILY
From the daily the pair broke through the 61.8 % Fibonacci pushed up and rejected at resistance level 139.166 definitely looking for a push down with the bears on the pair before we see continuation to the upside on the pair.
lets see where this takes us.
GOOD LUCK AND HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
* THE IDEA IS PREDICTIVE BASED ON TECHNICAL ANALYSIS MANY FACTORS GO INTO EXECUTING TRADES KINDLY TAKE CAUTION.
A look at the GBPJPY pair from some multiple time-frames starting of with the monthly time-frame/
1. MONTHLY
One the monthly the pair is currently trading in a descending channel currently at the roof of this structure.
We saw a strong momentum push with the bulls but closed with a bearish doji but we are at the beginning of the month so this will definitely change.
the pair is currently at the roof of structure respecting the descending channel and triangle structures.
2. WEEKLY
From the weekly the sentiment still more or less the same, still within the descending structure.
The pair formed a double top at resistance level 139.802 respecting both the descending channel and descending triangle.
Looking for a move with the bears on the pair for the structure to hold unless we see a break of the descending structure expecting structure to hold and see a move with the bears.
3. DAILY
From the daily the pair broke through the 61.8 % Fibonacci pushed up and rejected at resistance level 139.166 definitely looking for a push down with the bears on the pair before we see continuation to the upside on the pair.
lets see where this takes us.
GOOD LUCK AND HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
* THE IDEA IS PREDICTIVE BASED ON TECHNICAL ANALYSIS MANY FACTORS GO INTO EXECUTING TRADES KINDLY TAKE CAUTION.
Note
Note
Note
Trade closed: stop reached
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