GBPJPY Bearish Wedge Continuation Into Daily Support
Been around 6 months since I posted some technical analysis. Trying to get back into it, with the hope of progressing further in 2020. GBPUSD Simple Long trade with support/resistance plotted, a decent long term bullish trendline plotted, flag formation on the daily candlestick plotted. Lets go.
A bearish downtrend into a falling wedge formation, anticipating a reversal and once the bottom wedge-line has been retest I think price action will make a reversal for a big BUY. :)
Anticipating a rejection of the bullish trendline before hitting TP1 (4Hr Resistance) followed potentially by TP2 (Daily Resistance). SL just below the previous low on the trendline. Checkout my oldest trades, look at the success rate & accuracies. Cheers.
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Rising Lows within the wedge. TP1 @ 4Hr Support TP2 @ Daily Support