GBPJPY Sell Idea
D1 - Potential hidden bearish divergence forming.
H4 - Double wave up, price has reached the first magnet zone that has formed based on the 100 fibo extension of the first leg and 38.2 fibo retrace of the triple cycle. We also have another magnet zone that has formed slightly higher based on the 50% fibo retrace of the triple cycle and the 161.8 fibo extension of the double cycle.
Bearish divergence, the price has created a perfect uptrend line and once we get a valid breakout of this trend line we may start looking for sells.
H4 - Double wave up, price has reached the first magnet zone that has formed based on the 100 fibo extension of the first leg and 38.2 fibo retrace of the triple cycle. We also have another magnet zone that has formed slightly higher based on the 50% fibo retrace of the triple cycle and the 161.8 fibo extension of the double cycle.
Bearish divergence, the price has created a perfect uptrend line and once we get a valid breakout of this trend line we may start looking for sells.
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