Technician
Short

GBPJPY: Looks ready for a selloff

FX:GBPJPY   British Pound/Japanese Yen
4415 12 58
Going short GBPJPY             :

  • Shooting star on the daily chart
  • 200-DAYS SMA acting as a resistance
  • Long-legged doji at the 200-days average
  • 61.8 retracement level
  • 1.27 extension level for AB wave
  • Multiple bearish divergence on RSI
  • Minor double top formation

Targets and stop outlined on chart

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My Best Regards
Technician
Trade closed: stop reached: Stopped out, yet it was a good trade.
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It's just went for SL hit
Reply
I am waiting the completion of these patterns
GBPJPY_ Potential Cypher , Gartly and Butterfly Patterns !
+1 Reply
Trade didnt quite work out. Still an excelllent idea in my books
Reply
Indeed. Thanks..
Reply
ChrisGrech Technician
hindsight being 20/20, is there something that you got wrong in your analysis? Thanks for sharing!
Reply
This is an alternative scenario, if PA will continue to rally:
snapshot
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RojoPuntoES Koryphaeen
same scenario for me, i have to pending ordersfor that terrific bat (i love bats). Good luck
Reply
Good stuff with many confluences.
+1 Reply
I was waiting for a GBPJPY analysis. Great work mate. I like the point forms and the way you've laid it out. Please do more GBPJPY bro!
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Technician TOP DimiAverilla
Sure. Glad to help. Good luck
+1 Reply
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