NikaJourney

Could Daily Engulfing Candle Signal Where Breakout Heading?

FX:GBPJPY   British Pound / Japanese Yen
So we respected a bearish harmonic on the daily. But this multi-day consolidation is preparing for a big move.

But I'm curious will the move be strong enough to break the monthly zone of 136.218 and make a bigger push down if this is going to be a major short?

Otherwise, I do see a bearish engulfing as the last candle sitting on this daily zone. So it may be signaling the bull will begin this week. We'll see.

BULL TPS:
• 138.252
• 139.019
• 140.638

BEAR TPS:
• 137.239
• 136.390
• Only id the monthly zone is broken…135.464
• 134.650
Trade active: Trade is still active until all BULL or BEAR TPs have been hit.

Comments

Correction: I meant bullish engulfing. Sorry for the auto spell typo folks.
Reply
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