4H
BEllow the ema's
break and retest making a new structure
bearish trend line
1h
break below the 2emas with a clear momentum candlestick
I took this trade 5 days ago and have been in this range since, so the above were my confluences and I am still waiting for it to break down.
if the price broke above the 5/14 and 200ema ill be out of the trade and look for a...
I'm predicting GBPJPY shorts down to 154.500 this week.
- Price has created a double top on the weekly timeframe, the overall trend is bearish.
- Price has made a massive corrective move to the upside the past two weeks.
- Price will now continue it's bearish trend.
- Price will find support on the daily 50 EMA at 154.500.
Top down analysis done from the Daily to H1 and based on the perception that daily has made a pulback from the bearish move and with continue bearish after this move. Entry done on the lower TF.
Very aggressive SL. More conservative and safer would be around 154.970.
We are correcting the move from the last swing so Iam anticipating the price to come down below at the 138.600 to 138.400 levels.
Good Luck.
Happy Trading :D
