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KWFX

The Beast May -Possibly- Go Down

Short
British Pound / Japanese Yen (FX:GBPJPY)  
KWFX Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis priceaction dynamicresistance Ascending Triangle ascendingtrendline Good Risk/Reward
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trendanalysis chartpattern beyondta priceaction dynamicresistance ascendingtriangle ascendingtrendline goodriskreward
  • Weekly Resistance
  • Ascending Triangle
  • Triple Top

WAIT FOR..... Clear breakout of ascending triangle + Trendline + Clear PA confirmation! ....otherwise I wouldn't advice taking this trade!

Adjust the SL and TP accordingly when you get a clear entry.

All comments are welcome and appreciated

Peace!
Comment:
Nice bearish engulfing candle right at entry point, we may adjust SL since we can expect a pullback to 50%fib of last , which would be an extra confirmation for another entry. We must be careful of the horizontal orange line since it's a well respected D support, but once it's past we may expect a very good drop giving us a very good R&R.
Comment:
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