If you like this idea and commentary leave a like and follow me to get all of my updates :)
Underlying: GBPJPY Time frame: 1D
A few days ago I posted about GBPJPY about to hit a resistance level, this level has now been hit and price was rejected quite hard. What concerns me is that the MACD indicator has still not crossed or in a declining trend, because of this I am not fully committing to my trade. I am expecting some form of retest of the pink trading zone so if you missed out you can enter a short trade from 152.70 - 154.70.
thats a nice setup..a re test like you said with equal or higher high with the macd histogram lower..would be ideal...thx for the post...added it to my watchlist