gbpjpy analysis - 01 mar 2023
happy first of the month!! hope we all have profitable months :)
so here it goes...
- on the daily market closed below the downward trendline yesterday
- down to the H4 a bearish engulfing formed closing two previous bullish candles
- a head and shoulder pattern formed which is more clearer on the H1
- entry could have been taken at the london open where the right shoulder formed
- but now we WAIT for a breakout of the neckline and depending on how aggressive your entries are you can enter at the immediate breakout or wait for a retest of the neckline
- and just like every other trade I DO NOT KNOW WHAT WILL HAPPEN NEXT, i'll just act on my edge and SEE WHAT HAPPENS
so here it goes...
- on the daily market closed below the downward trendline yesterday
- down to the H4 a bearish engulfing formed closing two previous bullish candles
- a head and shoulder pattern formed which is more clearer on the H1
- entry could have been taken at the london open where the right shoulder formed
- but now we WAIT for a breakout of the neckline and depending on how aggressive your entries are you can enter at the immediate breakout or wait for a retest of the neckline
- and just like every other trade I DO NOT KNOW WHAT WILL HAPPEN NEXT, i'll just act on my edge and SEE WHAT HAPPENS
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.