Nothing changed since my 2 previous GBPJPY analysis. Short plays out as we forecasted in previous posts. Price is on the way to 2009 lows. One just need to look for optimal entries on minor timeframes not to get caught in major pullbacks (one can be right about direction but wrong about trade, hence its is paramount to find the best entries). Here I am also adding monthly chart with Accumulation and Distribution (Volume + Price graph - it is often more accurate that just price chart. On AD chart you can see that uptrend had already been broken and volume-price pulled back to 50 ema after the break for retest).
All the best!
This is no financial advise of course. For educational purposes only.
All the best!
This is no financial advise of course. For educational purposes only.
Note
Observe also that AD´s 50 EMA is sloping downwards on monthly. MA slope is one of the thing that you need to watch.
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.
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.