GBPJPY - Short break of rising wedge. Short

FX:GBPJPY60

British Pound/Japanese YenFXCM

Description

⋅ Jun 26, 2017 11:29 AM

GBPJPY - Will short the break below rising wedge and add to short if we see a retest of the underside

Comments

pipinsight

⋅ Jun 28, 2017 11:23 PM

Thats not a rising wedge. There is no prior trend. You have taken the wedge of a spike... stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:rising_wedge_reversal

rsm1thy

⋅ Jul 7, 2017 6:10 PM

@ccsalway, thank you for your comment and link. Well noted for future trades.

FX_IN_HARMONY

⋅ Jun 27, 2017 12:11 PM

I've been waiting for it to turn - it's sitting on the 200 SMA line right now. Min ATR pretty much fulfilled. In theory, it should go start testing 140.420 area soon.