reganjohnd
Short

GBPJPY Triangle To Break Short

FX:GBPJPY   British Pound / Japanese Yen
74 1 1
It looks like the triangle will be penetrated short, giving the opportunity for a short trade. I will put in my trade when the triangle is penetrated and the price action has intersected the bolinger bands.
Comment: Taking a look at the hourly chart, a nice wedge has formed. It is currently at the top of the wedge with Stochastic and RSI also at the top and I anticipate that prices are going to fall now.

If the hourly wedge makes a new low, then the triangle on the daily chart will also be broken downward.

I'm not sure how to add another chart? Could somebody tell me how please? :)
The pair might bounce off the triangle bottom or it might push through it. I am watching this one too.
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