Falling wedge on GBPJPY Weekly TF. With Boris forcing Brexit through - dragging the GBP down And with Trumps impeachment - Also dragging USD down But taking the JPY up May see a huge drop here. This will be a swing trade where you could be holding this trade anywhere from 2 weeks to 8 weeks Ideal entry is around 143.143.700 SL 144.500 TP 128 Large SL in...
As you can see, the price is moving within this channel, Slight breakout to below will wait for a double bottom then for it to continue within the trend and take profit at the trend peak.
The price is near a monthly high, looking to take at least 100 pip TP for short on this.
The price has broken through a new high I can expect a break retest. Can expect to take buys from the 0.65 zone
Fresh resistance level P Line Monthly reversal
Triple session confirmation market has moved up by 56 pips or so TP 20 pips SL 15 pips
Breakout of downtrend, price could go back up to the next resistance zone
We have a monthly reversal, November was a downtrend with -138 pips. We also see a double bottom/W formation AT THE P LINE We have the reversal taking off FROM THE P LINE On the Daily chart, we have a Bullish Pinbar On the 4 hour chart presenting us with an engufing candle stick pattern
Monhtly High, closing the gap left by the market open on Sunday night (London time 10pm) 15 min chart shows double top
Sell from monthly high and double top formation at monthly high on the 1hr chart
GBPUSD has reached a major resistance area, current candle (as of writing) is forming a pin bar after reaching the peak. Will wait for candle closure for confirmation.