GBPJPY Top Of Structure Again, Wait For Bearish Reversal
Hello traders:
Most JPY pairs in the last few weeks have been rather weak, and not much bearish development.
This week, we are finally seeing some bearish price action in the making.
On the higher time frame, we can see price is at the top of the HTF and LTF structure, and possible to have bearish reversals.
On the current LTF , we can see price is in this smaller, LTF ascending channel , potentially correct itself up to the previous highs to form a "M" structure reversal.
Few possible sell forecast would be either wait for price to impulse down follow by continuation
or
let price correctively move up a bit more, and watch for bearish reversal price action to confirm the down move
Thank you
Most JPY pairs in the last few weeks have been rather weak, and not much bearish development.
This week, we are finally seeing some bearish price action in the making.
On the higher time frame, we can see price is at the top of the HTF and LTF structure, and possible to have bearish reversals.
On the current LTF , we can see price is in this smaller, LTF ascending channel , potentially correct itself up to the previous highs to form a "M" structure reversal.
Few possible sell forecast would be either wait for price to impulse down follow by continuation
or
let price correctively move up a bit more, and watch for bearish reversal price action to confirm the down move
Thank you
Comment:
Price never formed any bearish reversal nor confirmation downside, no entry no trade.
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