Hi All
So GBPJPY after more than 600 pips up move with no fall of 60 pips.
Now he is at a strong Bollinger Band resistance and Fibonacci resistance.
At the small time frame you can see in the photo there are 2 patterns, the first break to the upside and get very nice support from the 2 trendlines that were touching each other on the same price, now because of the big time frame resistance, I expect that this uptrend line resistance will work and the price will drop to retest the support and even to break it to the downside.
Also since 2010 was only 1 time (2019) that price by the first day of the year didn't go the opposite direction of the last day of the year, so on Friday (end of 2021) we end as a blue candle, so the first trading day of 2022 supposed to be red.
Just showing my options .
So GBPJPY after more than 600 pips up move with no fall of 60 pips.
Now he is at a strong Bollinger Band resistance and Fibonacci resistance.
At the small time frame you can see in the photo there are 2 patterns, the first break to the upside and get very nice support from the 2 trendlines that were touching each other on the same price, now because of the big time frame resistance, I expect that this uptrend line resistance will work and the price will drop to retest the support and even to break it to the downside.
Also since 2010 was only 1 time (2019) that price by the first day of the year didn't go the opposite direction of the last day of the year, so on Friday (end of 2021) we end as a blue candle, so the first trading day of 2022 supposed to be red.
Just showing my options .