GBPJPY - A big short opportunity may present it self

GBJPY is at the top of corrective ascending channel right now. It reach this area impulsively. The price already got a little rejected right now. I will wait for this rejection to go a little further. After that,if i get a bearish continuation pattern to confirm the move to the downside, i will happily take short trade at the break of the continuation pattern as i draw in the chart. On the other hand, if i dont get the confirmation i will still be watching this pair from the sideline

Kommentar:

it continue to moove to the upside. But my entry havent got trigerred yet. This kind of move usually is just a fake move to catch more people on the wrong side of the market. I havent changed my bias and will still be waiting for a rejection (break back inside the channel) continued by a break of bearish continuation pattern to trigger my short sell entry on this pair.

Kommentar:

This analysis is cancelled because it havent give the confirmation for short entry yet, so i'm still safe. The ascending structure trendline need to be evolved. My view is still short on this pair