GBPJPY: price reversal at the high of a bullish trend
The price movement in the bullish trend has ended. The trend started in November last year and has been developing rather calmly. You will notice that its vertices form an arc, not straight lines. Within this Within arc, the price rose to its local maximum of 144.7. From this point, the price will reverse and begin to fall. We can expect the price to collapse by the value of the trend, but let's not rush and set consistent targets. First of all, the price will go down to the price level 143.4. We focus on this position.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.