jojofang0901

GBPJPY next higher time frame run

Short
OANDA:GBPJPY   British Pound / Japanese Yen
Hi traders:

GBPJPY has begun its bearish move on the lower time frame, good indication that we may resume the higher time frame bearish run.

Overall price action was in the larger deeper parallel channel structure, correcting the price.

We see price was in the ascending channel structure, and had a strong reversal bearish impulse down.

After such aggressive run, naturally price needs to correct itself and form a deeper continuations correctional structure.

Latest price we see price gets push to the upside, and reversal price action begun.

Look for get into this potential HTF bearish move, wait for correction on the LTF to get in the sell.

Thank you



Comment: HTF:
Comment: Waiting for LTF correction to complete.
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Comments

Nice Chart, thanks 🙏🏻
Reply
nice chart! thanks! 🦐👏🏻
Reply
jojofang0901 plancton0618
@plancton0618, thank you
Reply
Do you think that Brexit may affect in any way the GBP pairs? great analysis. Thank you
Reply
jojofang0901 johanam31415
@johanam31415, certainly possible, but we can not "guess" or "predict" what will happen to the market. All we can do it to "react" to the price action structure and market condition to make a decision on an entry. hope this help :)
+1 Reply
If that resistance zone is going to hold, the downward movement will be very strong. Perfect analysis!
Reply
jojofang0901 KlejdiCuni
@KlejdiCuni, thx bud :)
Reply
really bearish structure. let's see how far it can go
Reply
jojofang0901 Fisher_Fx
@Fisher_Fx, yes, certain possible for that bearish continuation in the near future.
Reply
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