GBPJPY - Medium term Short
Updated
4h timeframe shows a pennant pattern with a resistance of multiple confluence.
on the 1H timeframe price is moving in a flagpole pattern , the H4 pennant leads me to believe price will break through the 1H flagpole support after rejecting off of a 30M support turned resistance .
take profit set close to H4 pennant support .
on the 1H timeframe price is moving in a flagpole pattern , the H4 pennant leads me to believe price will break through the 1H flagpole support after rejecting off of a 30M support turned resistance .
take profit set close to H4 pennant support .
Note
Price broke through flagpole resistance to retest highs , analysis was invalidated and stop loss triggered.
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