Hello traders.
GBPJPY has reached the strong Fibonacci confluence level. And now it is reversing most likely. Wait for a correction and then take the short trade. The target is the breaking of the weekly bottom.
Trade with care...
GBPJPY has reached the strong Fibonacci confluence level. And now it is reversing most likely. Wait for a correction and then take the short trade. The target is the breaking of the weekly bottom.
Trade with care...
Note
The structure after down move looks like a correction. It can be the running or the expanding flat. I have put this entry order.Order cancelled
Before taking any trade, waiting for a correction as a confirmation is always a good idea. And this chart is one of those good examples. It broke the previous top. The forecast is still same, but there is no trade setup anymore.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.