First idea, still relatively new as well.
GJ has been trading in a triangle formation waiting to breakout which is imminent at this point. RSI (14) is just below 50 indicating a potential move to the downside. Trend line 1 (hourly) has not been broken and with the bearish sentiment of the market and if this holds I would expect 142.5-144 to be met. Another possibility is for GJ to retrace to the daily trendline (2) and then make a move lower.
There is also a head and shoulders pattern on the hourly in favour of the bears.
GJ has been trading in a triangle formation waiting to breakout which is imminent at this point. RSI (14) is just below 50 indicating a potential move to the downside. Trend line 1 (hourly) has not been broken and with the bearish sentiment of the market and if this holds I would expect 142.5-144 to be met. Another possibility is for GJ to retrace to the daily trendline (2) and then make a move lower.
There is also a head and shoulders pattern on the hourly in favour of the bears.
Trade active:
142.5 looks like a real possibility this week, I have set SL ahead of entry so I can let the trade run with some peace in mind.
Trade closed: target reached:
GJ TP@144 reached!
Looking to enter again and target 142.5 possibly 139
Looking to enter again and target 142.5 possibly 139