On H4 chart, there has not yet been a CCI regular divergence with price. If CCI does across up through the down trendline (tl) on CCI, that would be a Long signal. (even if it does, usual CCI patterning warns there might well be a retest down a little before a strong upmove).
Until then, GBPJPY is still signalling short based on
1. previous short signal (CCI break down thru and up tl)
2. no CCI diver
3. apex of CCI trendlines is well below 0 (zl)
Price likes to rise again to form a higher right shoulder, so I would keep a close eye on shorts. The point of this post is to illuminate trustworthy warnings. Tho H4 is not yet showing Long, I would be watching lower TF's for early reversals of the 3 points listed above, and be ready to take an aggressive entry long using a small stop
Until then, GBPJPY is still signalling short based on
1. previous short signal (CCI break down thru and up tl)
2. no CCI diver
3. apex of CCI trendlines is well below 0 (zl)
Price likes to rise again to form a higher right shoulder, so I would keep a close eye on shorts. The point of this post is to illuminate trustworthy warnings. Tho H4 is not yet showing Long, I would be watching lower TF's for early reversals of the 3 points listed above, and be ready to take an aggressive entry long using a small stop