Potential Short Opportunity GBPJPY
Hello Traders
On the daily timeframe we have a pennant pattern.
We are expecting price to react at the trend-line resistance and with confluence of a zone of structural resistance in this area.
Going into the 4hr timeframe, we have a Bat pattern which completes at 161.77. This is where we enter short.
Furthermore, we will be keeping an eye on RSI for continuing signs of overbought conditions or divergence.
TP1:158.78
TP2:156.81
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On the daily timeframe we have a pennant pattern.
We are expecting price to react at the trend-line resistance and with confluence of a zone of structural resistance in this area.
Going into the 4hr timeframe, we have a Bat pattern which completes at 161.77. This is where we enter short.
Furthermore, we will be keeping an eye on RSI for continuing signs of overbought conditions or divergence.
TP1:158.78
TP2:156.81
Like & Comment
Follow us for more at KashMarkets on Trading view and Instagram.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.