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Stargazer_fx
Oct 13, 2020 6:07 PM

GBPJPY, broke below support structure_&_trendline, Sell analysis Short

British Pound/Japanese YenFXCM

Description

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GBPJPY
price is back below the support/resistance structure and price also broke below the ascending trendline,If we missed the first move we can enter after a pullback if price shows rejection.


For Entry:
Wait for the formation of Bearish Candlestick Pattern to close on 4hr timeframe for confirmation to SELL..
Trade it with proper Sl..
In case, if price breaks above the support/resistance then we have to wait for a clear direction..


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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Comments
KlejdiCuni
Great job mate. Same overview:)
Thanks for sharing!
Stargazer_fx
@KlejdiCuni Excellent analysis mate,thanks for sharing
Dave-FX-Hunter
let's see I'm seeing weak JPY so I'm not so sure on this one
Stargazer_fx
@DaweFXHunter Price has statrted to go down,lets see if it works out.
FXCM
very nice analysis ! price did drop from there !

Stargazer_fx
@FXCM thanks for sharing
SunnyHillCapital
Beautiful work, same view here. Trendline break, wait for retest to sell. Thanks for sharing!
Stargazer_fx
@SunnyHillCapital thanks mate,good luck
ChasingTheMoon
great setup! i have the same view!
Stargazer_fx
@ChasingTheMoon thanks mate,glad to hear you have the same view
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