RaynLim

RSI Divergence and Bearish Shark Pattern Combo Trade

Short
FX:GBPJPY   British Pound / Japanese Yen
Today, let's delve into an intriguing setup on GBPJPY that combines a Weekly Chart RSI Divergence with a 1-hourly Bearish Shark Pattern:

1. Weekly Chart RSI Divergence:

- Observe the RSI Divergence on the Weekly Chart, signaling a potential weakening of the bullish trend.

- This divergence might serve as a precursor to a reversal or retracement.

2. 1-hourly Bearish Shark Pattern at 190.72:

- Look for a shorting opportunity as the Bearish Shark Pattern completes at 190.72 on the 1-hourly chart.

- Engaging in a short position aligns with the potential bearish sentiment suggested by the RSI Divergence.

This combo trade approach involves using higher timeframes for trend analysis (Weekly RSI Divergence) and pinpointing a precise entry with a harmonic pattern on a lower timeframe (1-hourly Bearish Shark).

Feel free to share your thoughts and trade plans for GBPJPY in the comments below. For a visual representation, refer to the chart link provided.

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