here is my analysis on GBPJPY,
entered the sell on the 15M Timeframe, risked 0.5% on this trade personally, but if the momentum continues I will look for scale in opportunities.
my scale in positions will be posted also.
please let me know if you have a different look on this pair, love to collaborate with other individuals / send me a direct message!
GBPJPY on the daily is clearly creating higher highs, but if you look at the bigger picture.. it’s just a daily rising wedge. Me being a patterns trader this is a huge opportunity for a big move to the downside📉✅
We will be looking for an entry close to where price is currently, inside of the pattern and once it’s breaks to the down side look for another...
ABCDE move into 136.600. A nice downtrend. Price is are trading below the daily level, so I see a push into the blue daily and a rejection to short the pair.
After failure of rising above 134.72, GJ continue to fall slowly.
Looking at Leading diagonal formed as five waves, we assume this pair will be bearish at least fifty percent of High low 134.72 / 124.11.
Selling pressure assume will end at 129.3 before looking for price action on buying opportunity.
