GJ Rising Wedge Break!

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!

註釋

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!

註釋

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!

註釋

JPY Monetary Base y/y came in!
.9% Actual v 2.2% Forecast!!

1.3% Miss on Forecast!

交易進行

Sell Entry @ 200.34
SL @ 200.5

註釋

Price pushed up to test the Break of Pattern!

Already we are seeing rejection from Higher Prices!

註釋

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