GBP/JPY Analysis for Week 27 - Trenline Outbreak

DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".

I have been watching this pair for a long time and have been highly interested as well as profited from it. The wat the price action has moved and formed a beautiful structure is just amazing and is what you usually see in text books. It seemed to have moved this week so lets take a look.

Weekly: I had drawn a resistance line at 148.058 a long time ago (www.tradingview.com/...r-Week-23-Structure/) and noticed that the price would reach the area and bounce off to hit the ascending trendline. The price has tapped the resistance level 3 times and the next obvious move was to drop towards the trendline, which is what it did in July.

Daily: So taking a closer look we can se that the price bounced off the resistance area and this past friday 11th of August, the price broke the ascending trendline. Something expected after hitting the resistance area. So on a daily outlook here is what Im thinking:
The price is gonna catch a lot of traders selling and selling because of the outbreak. I will not sell just yet. I will wait for traders to take their profits, thus bringing the price up to the ascending trendline and previous support area around 142.770. At that level is where I will wait to see the price action and possibly sell.

4hr: Alright so the price has moved below the MA. I will wait for the price to tap it and sell, maybe take a small scalp on it. Either way in the big picture I feel this pair as a sell.