Hi everyone so we're going to be looking at GBPJPY
As we can see in the chart, an ascending channel was formed on its was to the resistance level.
We know that ascending channel means once there's a breakout below it, there's going to be a bearish pump
As we can see in the chart above, we see an impulsive breakout (bearish breakout) and we know after an impulsive move we see a correction. This is what the price is currently doing now. It's correcting
So am going to enter the trade once there's a breakout below the small correction to catch the next impulsive move (bearish move).
If you like my analysis don't forget to like and follow me for more updates like this
Peace out
As we can see in the chart, an ascending channel was formed on its was to the resistance level.
We know that ascending channel means once there's a breakout below it, there's going to be a bearish pump
As we can see in the chart above, we see an impulsive breakout (bearish breakout) and we know after an impulsive move we see a correction. This is what the price is currently doing now. It's correcting
So am going to enter the trade once there's a breakout below the small correction to catch the next impulsive move (bearish move).
If you like my analysis don't forget to like and follow me for more updates like this
Peace out
