Here I have GBP/JPY on the 1 HR chart!
Price has been following what looks to be a Rising Resistance and Rising Support forming a RISING WEDGE!!
Early this morning on disappointment of GBP strength, we seen price BREAK BEARISH strongly on the pattern!!
I believe price is now retracing to the Rising Support of the Wedge to test as a VALID BREAK for confirmation that price will CONTINUE DOWN!!
*Currently waiting on the Re-Test of the Rising Support Break! Upon VALIDITY, I will be looking to SELL!
Price has been following what looks to be a Rising Resistance and Rising Support forming a RISING WEDGE!!
Early this morning on disappointment of GBP strength, we seen price BREAK BEARISH strongly on the pattern!!
I believe price is now retracing to the Rising Support of the Wedge to test as a VALID BREAK for confirmation that price will CONTINUE DOWN!!
*Currently waiting on the Re-Test of the Rising Support Break! Upon VALIDITY, I will be looking to SELL!
Nota
Price is on its way back up to Retest! I'm looking for price to come into the ( 200.14 - 200.24 ) and upon appearance of rejection Validating the Break, I will take Sell Positions!
Nota
BRC Retail Sales Monitor came in .4% Actual v 1.2% Forecast!Even though the .4% beats last months -4.4%, the .8% miss on the Forecast is helping GJ on its way to Retest the Break of Pattern!
Nota
JPY Monetary Base y/y came in!.9% Actual v 2.2% Forecast!!
1.3% Miss on Forecast!
Operación activa
Sell Entry @ 200.34SL @ 200.5
Nota
Price pushed up to test the Break of Pattern!Already we are seeing rejection from Higher Prices!
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Keep It Current,
With Novi Fibonacci!
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Exención de responsabilidad
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For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Keep It Current,
With Novi Fibonacci!
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.