you can short now or wait for the channel breakout for a safer trade. Either way, it's going down. ...hopefully
short if it breaks 105 down to 94. if it breaks the 94 level short again all the way down to 73.617.
sell the breakout. if price reaches the green zone we'll look to buy up to 0.382 and 0.618 of AD. trade safe
It's all in the chart :)
All conditions are met for this ABCD pattern so we"re good to sell. SL: 10 pips above the 1.618 extension of AB : 0.72131 TP levels are the retracements of AD at 0.382(0.71364) and 0.618(0.70967). For a safer trade, you can short at the break of the pink trend line: Trade safe!
sl 1.51292 when price reaches 0.382(1.51994) set it to break even(entry price) good luck!
Selling the breakout is a good idea. Trade invalidated if price closes above the 0.786(82.114) retracement.
More evidence indicating that we should buy the market: Monthly TF: Daily TF:
Reason for buying: Price broke the trend line and made a pullback to the broken trend line suggesting that now is time to start buying on the daily time frame. Target: The fib extension helps to determine our buying target. Price has retraced to the 0.618 (1.90801) level which means that it'll go up to the 1.618 (1.90801) level. Entry: You can enter now...
Reason for buying: * Price broke the trend line and made a pullback to the broken trend line suggesting that now is time to start buying. Target: The fib extension helps to determine our buying target. Price has retraced to the 0.786 (1.83183) level which means that it'll go up to the 1.272 (2.37749) level. Entry: For entry point, we have to look at...
GBPJPY is done going down according to the monthly and the daily charts. On the monthly TF, we reached a resistance area and on the daily TF, we reached the low of the broadening wedge All this tells us we should be looking to go long on the pair, so we look to the 4hour TF and find an entry point: the breakout of the descending wedge. Always trade safe.
not entering now still waiting for what the market'll do