GBPJPY Sell Setup
Hello traders:
Looking at GBPJPY for bearish continuation price action.
We see price was correctively moving up in this parallel type of ascending channel, and from the top we see price impulse out of the channel.
Such strong momentum, breaking out impulsively will require a correction structure to continue the sell.
I see two possible scenarios:
-Price either made a corrective push up, forming a potential right shoulder for the H and S pattern and sell from the top
or
-Look for continuation correction now and enter once we see a confirm breakout from that structure
Look for the lows of the higher time channel structure as a potential long term target.
Thank you
Looking at GBPJPY for bearish continuation price action.
We see price was correctively moving up in this parallel type of ascending channel, and from the top we see price impulse out of the channel.
Such strong momentum, breaking out impulsively will require a correction structure to continue the sell.
I see two possible scenarios:
-Price either made a corrective push up, forming a potential right shoulder for the H and S pattern and sell from the top
or
-Look for continuation correction now and enter once we see a confirm breakout from that structure
Look for the lows of the higher time channel structure as a potential long term target.
Thank you
Catatan
Catatan
Waiting for this correction to completeCatatan
Look for more corrections to get in the sell down. 
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.