Price is currently at support ans resistance, we will wait for confirmation which is a break out and retest of current support and resistance. If price does not behave as expected then this setup will be invalid.
Please like and comment so I can keep sharing my ideas, would also love to hear your take on this.
We see a double top on the one hour timeframe, wait for price to cross and retest the neckline for confirmation. This could be a good short trade. Good luck
Please like and comment,so I can keep sharing ideas and also learn from your inputs.
This is my analysis for GBPJPY, already missed my ideal entry point. But still safe to enter nonetheless, just increases my risk.
Reason for selling, chart pattern formed is a bilateral triangle, which is ascending on the 1H and 4H chart and as you can see it broke the trend line. Risk reward is around 1 : 2.65
