817 views
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
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.
I provide price action analysis, live stream market updates, group interactions Q/A, educational videos/lessons.
Telegram: https://t.me/aeristrading
YouTube: https://www.youtube.com/user/jojofang0901
Instagram: https://www.instagram.com/aeristrading/
Telegram: https://t.me/aeristrading
YouTube: https://www.youtube.com/user/jojofang0901
Instagram: https://www.instagram.com/aeristrading/
Related Ideas
Comments
Do you think that Brexit may affect in any way the GBP pairs? great analysis. Thank you
Reply
@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 :)
Reply
If that resistance zone is going to hold, the downward movement will be very strong. Perfect analysis!
Reply
@Fisher_Fx, yes, certain possible for that bearish continuation in the near future.
Reply