OGFXTRADER

GBPJPY H4 SHORT PRICE ACTION FORECAST

Short
OANDA:GBPJPY   British Pound / Japanese Yen
Price has reached a previous resistance and got rejected, unable to form a new high for a double top pattern. It shows the downward movement towards the ascending trendline in direct confluence with the golden level from Fibonacci. The price structure allows the placement of a short entry.

The order:
Type: sell-stop
S/L: 57 pips - R:R | 1:3.6 -
T/P: ascending trendline

--
*** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.