GBP/JPY from the beginning of this week has been in what looks to be a Descending Triangle Pattern!
*Lower Highs coming into Equal Lows!
With this pattern, traders would typically expect price unable to continue higher, and breaking down out of pattern to fall further!
If price decides to break below our bottom leg, this will supplement my GBP/JPY Bear Sequence Call! Stay Tuned!!
BE AWARE!!
*Patterns are known to fail 1/3 of the time so watch for FAKE BREAKOUTS
*Lower Highs coming into Equal Lows!
With this pattern, traders would typically expect price unable to continue higher, and breaking down out of pattern to fall further!
If price decides to break below our bottom leg, this will supplement my GBP/JPY Bear Sequence Call! Stay Tuned!!
BE AWARE!!
*Patterns are known to fail 1/3 of the time so watch for FAKE BREAKOUTS
Note
Price has given us a PROPER BREAK and CLOSE out of the Descending Triangle!! Watch for updates on related GBP/JPY - Possible Bearish Sequence for Trade Idea
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
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.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
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.