JoeMatkinFX

Great setup broke 1000 level impulsively now we are forming a bull flag. I will look for a better entry at the bottom of the flag and I will look for a stoploss under the £1000 level. This is of course in correlation to XAUUSD which is pulling back too support will be looking for a long there too.

SL 1.30600 TP 1.30150

A bearish shooting star candle has formed at resistance (137.000) Along with the RSI showing the market is overbought and 10 and 20 EMA distant from price indicating a pullback would be likely. If price breaks 137.000 this would negate my short term bearish outlook. ENTRY - 136.000 SL - 137.000 TP - 135.000 RISK TO REWARD - 1:1

Wait for a retest on GBP/JPY if we get it we could see potential downside. Also hoping RSI will go +50 by the time it hits trend line.