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jojofang0901

GBPJPY Short Term Bearish Reversal

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
jojofang0901 Updated   
OANDA:GBPJPY   British Pound / Japanese Yen
Chart Patterns Parallel Channel Flag priceaction structure pattern impulse correction Wedge
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chartpattern parallelchannel flagpattern priceaction structure pattern impulse correction wedgepattern

Hi everyone:

Looking at GBPJPY's current lower time frame price action.

Overall price has been pushing up, and we have yet seen a deeper consolidation for bullish continuation.

Instead we see price broke the HTF swings high tops, and correctively move up in an ascending channel, could be the first sign of a potential bearish reversal.

What I will wait for is a clear LTF impulse out of this channel, and continuation correction to sell.

Look to see if price can break below the previous lows and continue, or reverse back up to the upside.

Thank you
Comment:
Comment:
Comment:
Close down for about 2.3% profit when LTF shows bullish reversals price action. Didn't want to hold through a deeper pullback.
snapshot
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