GBPJPY Continuation of bullish trend

FX:GBPJPY   British Pound / Japanese Yen
182 3 5
Daily Cup & handle published last week in play. Key support for further upside remains the lip line but I won’t be surprised if 187.30 serves as well. After all, it is previous resistance / now support and double bottom on 4H TF. Target remains 194.25.
Bearflag, shooting star on daily, overbought rsi, not looking like it's a long in my opinion.
+1 Reply
Yahia.Awes Yahia.Awes
Rising wedge is broken down, next one is the flag for the bears.
Nightwish Yahia.Awes
If you look closely to my setup you can see that retrace is obvious . I do not trade pull backs or counter trend trades. RSI has no matter for me till I see divergence and because of divergence - you got bearish print which means pull back. Deeper - better, it will give me cheaper price to go long for my target. Daily chart pattern which is valid is bullish cup & handle.
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