GBPJPY got flatly rejected on our last idea as it peaked on the HH trendline and crossed under the 1D MA50 (chart at the bottom of the analysis). Even the Channel Up broke downwards and the 1D technical outlook is bearish (RSI = 38.762, MACD = -0.520, ADX = 38.784) officially. A new Channel Down has emerged, which shifted the 4H MA50 to a Resistance after the September 6th breakdown.
Our trading approach includes waiting for the next 4H MA50 contact, sell it and target a new LL. As you see the 2.0 and 3.0 Fibonacci extensions almost match the S1 and S2 levels respectively. Our targets are formulates accordingly (TP1 = 180.400, TP2 = 177.000).
Prior idea:
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Our trading approach includes waiting for the next 4H MA50 contact, sell it and target a new LL. As you see the 2.0 and 3.0 Fibonacci extensions almost match the S1 and S2 levels respectively. Our targets are formulates accordingly (TP1 = 180.400, TP2 = 177.000).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial