The power of the ending diagonal and the major resistance. I notice the several reliable factors implying the direction of the GBPJPY, might be the time for the reversal trading.
1. (D1) Major reliable zone of resistance
2. (H4) Wide-formed regular divergence
3. (H2) Ending Diagonal pattern hits the major resistance
4. Price close under the trendline with the momentum
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Wait for the confirmation of the reversal to increase the probability of the analysis
1. Price breaks the interesting price with the volume and momentum .
** Identify the risks **
1. (D1) Major reliable zone of resistance
2. (H4) Wide-formed regular divergence
3. (H2) Ending Diagonal pattern hits the major resistance
4. Price close under the trendline with the momentum
-------------------------------------------------------------------------------------------------------------------
Wait for the confirmation of the reversal to increase the probability of the analysis
1. Price breaks the interesting price with the volume and momentum .
** Identify the risks **
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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.