GBP JPY Short
This is my analysis for this coming week I think that we are still looking at a correction.
We have broke out of a rising wedge & we have retested the higher high that was previously made and closed under it , we have failed to breakthrough higher & created a double top
We are still oversold on the daily & weekly time frame and are running into exhaustion I believe we will be dropping to 179.900 where we will see if it will breakthrough the support level.
This is my analysis for this coming week I think that we are still looking at a correction.
We have broke out of a rising wedge & we have retested the higher high that was previously made and closed under it , we have failed to breakthrough higher & created a double top
We are still oversold on the daily & weekly time frame and are running into exhaustion I believe we will be dropping to 179.900 where we will see if it will breakthrough the support level.
Comment:
Multiple Failed Breakouts Makes Me Think We Are Going To Correct Downwards Before Going Up Still
Comment:
Just a predicted that there was going to be retracement & I'm still expecting the price to reach the 179 level before testing the area and jumping back up
If you took a trade on this I'd close out some of your position and let the rest run with a stop loss in profit at 183
If you took a trade on this I'd close out some of your position and let the rest run with a stop loss in profit at 183
Comment:
Still on track to hit the 180 level before going up this was a beautiful trade
Comment:
The prediction & analysis on this trade was spot on we are very close to the point of interest - all sell position can now be closed and we will be looking for position to buy now
Trade closed: target reached:
What a trade ! Did everything i expected it to do.