GBPJPY Bottom of structure, bullish reversal pntential

Dec 13, 2021

Hello traders:

We can see GBPJPY's price is currently at the bottom of the overall HTF expanding structure.

How price is developing at the bottom is the key to identify and confirm the possible bullish price action.

We can now see a potential double bottoms, and a descending channel, good signs of the bullish reversals.

Best to wait for price to commit to the upside, by a bullish impulse up, follow by continuation on the lower time frame before entry.

thank you

Dec 13, 2021

Note

HTF:

Dec 15, 2021

Note

Dec 17, 2021

Note

Price hit TP 1
strong bullish push up
but failed to continue higher
bearish momentum is coming in
no further bullish bias for now