GBPJPY - Already Over-Bought!

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈GBPJPY has been bullish trading within the rising channel in blue.

Currently, GBPJPY is approaching the upper bound of the channel.

Moreover, the green zone is a strong supply and structure.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green supply and upper blue trendline.

📚 As per my trading style:
As #GBPJPY is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Trade closed: target reached

TheSignalyst

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