akyong

GBPJPY - Short term sell before another buy

FX:GBPJPY   Britisches Pfund / Japanischer Yen
While my medium to long term perspective on GBPJPY             remains bullish , I am expecting a short term downside before the buyers come back to push price higher.

This gives me a short term sell opportunity this week -

1) Price is forming a diagonal structure, a reversal pattern;

2) We are seeing a RSI divergence, showing a lack of strength and momentum to push price higher; and

3) Price has reach a 200% fibonacci extension , completing the minimum criteria for wave 3, giving me an expectation that we might be seeing a wave 4 correction soon.

However, taking reference from USDJPY             , we might still see price continue to inch higher first before the fall / correction comes.

Keeping a close watch for a potential sell setup this week.

P.S. USDJPY             , EURJPY             and GBPJPY             are all presenting similar setups.

**Take reference from USDJPY             as it will 'lead' the others :)
what about the huge triangle structure its in right now? wouldnt you consider that bearish?
+1 Antworten
akyong ArmaniMcleod
@ArmaniMcleod, Hi are you referring to a triangle structure on daily timeframe?
Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden