GBPJPY, Break Wedge and short ? Short

British Pound/Japanese YenFXCM

Description

⋅ Oct 15, 2018 2:37 AM

Dear you guys,

Price is sideway among the 147.7 -149 and broken the H4 trenline & this wedge.

We can consider to short after price consolidated from fibo 38.2 to 61.8.

Trade with care !

Comment

⋅ Oct 17, 2018 12:55 AM

We can consider to short at 148.50 - 148.70 when Bat Pattern formed and price confirmed.

Trend Analysis Chart Patterns

Comments

ThoTruong

⋅ Oct 16, 2018 2:37 PM

This chart is still right or not!? Correction is strong, above 148,200.

ThienPham

⋅ Oct 17, 2018 12:48 AM

@ThoTruong, in case price is above 148.20, let it go. We can consider to short at 148.50 - 148.70 when Bat Pattern formed and price confirmed. Pls review my update. Many thanks, Bro !

FXCM

⋅ Oct 15, 2018 8:47 AM

Thanks for sharing your idea, I am also bearish on GBPJPY and there is a horizontal overlap resistance which coincides with the 23.6% fibonacci retracement.
Glad that we have the same bias on GBPJPY:

ThienPham

⋅ Oct 16, 2018 1:07 AM

@FXCM-EDU, Yeah, thanks Bro !