FX:GBPJPY   British Pound / Japanese Yen
RETEST THE 146.500 ZONE 5 TIMES AND WE HAD A STRONG PULL BACK ON ALL OF THOSE TIMES THEREFORE I AM LOOKING FOR THIS TRADE TO HIT THE 146.500 ZONE AGAIN AND SHOW RESISTANCE THEN LOOK FOR A SHORT TRADE.
ON FIB LEVEL WE HAVE HIT THE 61.8 MARK AND BEARISH . THEREFORE I WOULD LIKE TO SEE A PULLBACK TO THE 50% OR 61.8% MARK BEFORE TAKING THIS SHORT TRADE.
WE HAVE BROKE BULLISH TRENDLINE AND NOW LOOKING FOR BEARISH TRADES. OUR TP 1 MATCHES THE FIB LEVEL -27 AND THIS LEVEL HAS SHOWN STRONG SUPPORT BEFORE.
IF WE DO SEE THIS PULL BACK AND THEN A BEARISH TREND WE HABE FORMED A HEAD AND SHOULDERS AND THIS IS ANOTHER STRONG SIGNAL TO GO SHORT.

Comments

Nice find! More down side probable.
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