Veejahbee
Short

BEARISH TREND CONTINUATION TRADE/H&S REVERSAL SETUP ON GBPJPY

FX:GBPJPY   British Pound / Japanese Yen
GBPJPY is in a clear bearish trend , and price is just about to retest the neckline of broken head & shoulder pattern which aligned with 61.8 Fib, daily resistance zone , and mean value. Our goal is to find a short entry, with that in mind, we wait for a clear break of Counter Trend Line (CTL) for entry.

There is currently two CTL on the chart, the break of the short-term CTL that's close to price will be used for an aggressive entry while the CTL that's extended from current price action can be used for a conservative entry.

NOTE: A strong bullish close above the resistance zone and desecing trendline will invalidate this setup.

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Comment: This setup has been invalidated.
Strong daily bullish candle closed above our sell zone.
We will be watching fro short-term buy setup after the retest of the broken zone as support.
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