848evo
Short

GBPJPY Short Trade

FX:GBPJPY   British Pound/Japanese Yen
42 0 0
PA has been bouncing in quite the daily range but with the recent strong down move, I think it's time for PA to break the range and keep moving down. I believe there will first be a retracement to about the 50% fib level where we have major resistance and the joining of the 200 SMA and 50 SMA . RSI is also oversold so we need a correction up first to be in balance before a move down.
***** HOW TO READ THE CHART: The red and blue lines represent clusters of BUY/SELL orders. The thicker the line, the stronger the cluster. Red = SELL, Blue = BUY. Grayed Out = Cluster Hit & Gone.

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