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Sphinx_Trading

GBP/JPY: daily supply short +400 pips

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
Sphinx_Trading Updated   
OANDA:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis GBPJPY sphinx_trading
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trendanalysis chartpattern beyondta gbpjpy sphinx_trading
- Price broke the last equal high at 162.0 grabbing the liquidity above it.
- Now we can see price is heading to 166.0 Strong supply zone.
- We may have a bearish move from 166.0 supply zone to the last demand zone at 162.0
Comment:
- Ascending corrective channel on 5m.
- Heading to 166.0
Trade active:
- Big bearish 1 closure after testing 166.0 supply zone.
Comment:
- Price broke the last low at 164.0.
- fully retest on 164.500 supply zone.
Comment:
- Price reached 163.0 demand zone.
- 300+ pips till now.
Comment:
- New low high formed.
- New pivot 163.0 for shorting to 162.0 demand zone.
Comment:
- Huge bearish 4h closure after accumulation.
Trade closed: target reached
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