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JoeyMvc

GBPJPY Potential Short

Short
British Pound / Japanese Yen (FX:GBPJPY)  
JoeyMvc Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns GBPJPY short shortposition 1hr Technical Analysis
2
0
trendanalysis chartpattern gbpjpy short shortposition 1hr technicalanalysis
Potential short opportunity.
- Daily chart previous structure supporting idea
- Structure has put in a lower low
- Currently in retracement from previous resistance level
- Price needs to push into yellow area and show some form of reversal.
- RSI looking on track to overbought.
- Yellow area = to .5 - .618 FIB Retracement level.
- Enter on valid reversal

snapshot
Daily chart supports structure resistance level.

snapshot
H4 showing pull back in process with a clear lower low structure
Comment:
ATR based stop by the way.
Comment:
No valid reversal, never entered.
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