gbpjpy 1h xabcd bears short from resistance
🔸Hello traders, today let's review gbpjpy 1 hour chart and see if there any any valid patterns.
This is a speculative xabcd setup in progress, recommended strategy is to short sell from
resistance once we max out near point D later next 1-2 weeks. Right now we are trading
at 163.60 near point B level so no valid entries for bulls/bears.
🔸The xabcd structure is defined by point X at 164.80, point A at 159.75, point B at 163.25,
point C at 158.65 and finally point D at 165.25. Point D is in progress, not confirmed yet.
🔸Recommended strategy in this market: bears should look for price to max out near point D
at 165.25 and look for a reversal trade entry, SL over point X and conservative TP based
on fibonacci of the latest price swing will be set at 161.50, which is +355 pips from entry.
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Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
This is a speculative xabcd setup in progress, recommended strategy is to short sell from
resistance once we max out near point D later next 1-2 weeks. Right now we are trading
at 163.60 near point B level so no valid entries for bulls/bears.
🔸The xabcd structure is defined by point X at 164.80, point A at 159.75, point B at 163.25,
point C at 158.65 and finally point D at 165.25. Point D is in progress, not confirmed yet.
🔸Recommended strategy in this market: bears should look for price to max out near point D
at 165.25 and look for a reversal trade entry, SL over point X and conservative TP based
on fibonacci of the latest price swing will be set at 161.50, which is +355 pips from entry.
🎁Please hit the like button and
🎁Leave a comment to support our team!
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
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🔸primary telegram channel
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🔸75%+ win rate free gold signals
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