GBPJPY day trade
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- our scenario: Sells around 156.50
- alternative scenario: buys above 156.50
- targets: for sells: 155.50
for buys: 156.50, 157.10
- comments: after 5 weeks up, the 1st bearish candles appear on the weekly resistance, while RSI on weekly retested a downtrend and curved down. on daily t.f, the price created a potential DoubleTop on 157.70 and RSI crossed down below the SMA with H&S pattern. IF RSI crossed below "58.30" we could continue down. On the 1hr t.f, we can see wave 1 of 5 created with possible ABC correction to create wave 2 of 5 @ 156.50 which is the resistance of the 1hr downtrend.
disclaimer: our analyses are based on our experience and knowledge in the market, so please make sure to do your own before executing because
we are not responsible for the decision or choices of traders.
- our scenario: Sells around 156.50
- alternative scenario: buys above 156.50
- targets: for sells: 155.50
for buys: 156.50, 157.10
- comments: after 5 weeks up, the 1st bearish candles appear on the weekly resistance, while RSI on weekly retested a downtrend and curved down. on daily t.f, the price created a potential DoubleTop on 157.70 and RSI crossed down below the SMA with H&S pattern. IF RSI crossed below "58.30" we could continue down. On the 1hr t.f, we can see wave 1 of 5 created with possible ABC correction to create wave 2 of 5 @ 156.50 which is the resistance of the 1hr downtrend.
disclaimer: our analyses are based on our experience and knowledge in the market, so please make sure to do your own before executing because
we are not responsible for the decision or choices of traders.
Disclaimer
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