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coolj69
Jul 17, 2018 9:15 AM

GBPJPY SHORT IDEA Short

British Pound/Japanese YenFXCM

Description

ON THE WEEKLY PRICE JUST BROKE OUT OF THE RISING WEDGE AND IS CURRENTLY DOING A PULL BACK FOR A BEARISH MOVEMENT TO THE 125 LEVEL.

ON THE DAILY CHART, PRICE IS IN A TEXTBOOK DESCENDING TRIANGLE

ON THE 4HR CHART, THERE IS AN INTERSECTION OF THE RESISTANCE AND A TRENDLINE AT THE 150 LEVEL, i AM HOPING PRICE WILL GET TO THAT LEVEL AND THEN TURN BACK WARDS.

I WOULD SET A SELL LIMIT ORDER AT THAT POINT.
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