Duchess_of_Forex

GBPJPY SHORTS! 200 PIPS!

Short
OANDA:GBPJPY   British Pound / Japanese Yen
- GJ has created a head and shoulders pattern on the 4-hour timeframe.
- GJ has created a doji on the weekly timeframe , displaying signs of a reversal.
- GJ hasn't had a daily pullback in 21 days, it's overdue for a higher timeframe retracement.
- The JXY has created a double bottom , showing signs of strength.

I believe GJ will be bearish for the next week or two, my bias is sells.

Let me know if you agree or disagree in the comments.
Trade active: Please be aware that this is a swing trade opportunity, you might have to hold this trade for 1 or 2 days.

Comments

Nice Chart ... Analysis
+1 Reply
@abassexpert Thank you! 😊
Reply