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British Pound / Japanese Yen
Short

SHORT GBPJPY: 6 Reasons

By glennmercer
GBPJPY has completed a series of bearish patterns. Two bearish Wolfe Waves are entering a their sell zones. A bearish Gartley pattern makes for a good place to enter. The Gartley PRZ is confluent with trendline resistance. SL is placed above X/5/5 with target at the unhit weekly pivot.

Confluence in the PRZ:
1. Large bearish WW pattern potentially complete
2. Small bearish WW pattern potentially complete
3. Bearish Gartley pattern complete
4. Trendline resistance
5. .886AB=CD
6. Unhit weekly pivot below price

GARTLEY 15M
snapshot

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AB=CDBearish GartleyBearish Wolfe WaveconfluenceGartleyGBPJPYglennmercermissedpivotmissedpivotspivotPivot PointsPRZshortS/RTrend LinesWolfe Wave
glennmercer
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