GJ Rising Wedge Break!
Uppdaterad
Here I have GBP/JPY on the 1 HR chart!
Price has been following what looks to be a Rising Resistance and Rising Support forming a RISING WEDGE!!
Early this morning on disappointment of GBP strength, we seen price BREAK BEARISH strongly on the pattern!!
I believe price is now retracing to the Rising Support of the Wedge to test as a VALID BREAK for confirmation that price will CONTINUE DOWN!!
*Currently waiting on the Re-Test of the Rising Support Break! Upon VALIDITY, I will be looking to SELL!
Price has been following what looks to be a Rising Resistance and Rising Support forming a RISING WEDGE!!
Early this morning on disappointment of GBP strength, we seen price BREAK BEARISH strongly on the pattern!!
I believe price is now retracing to the Rising Support of the Wedge to test as a VALID BREAK for confirmation that price will CONTINUE DOWN!!
*Currently waiting on the Re-Test of the Rising Support Break! Upon VALIDITY, I will be looking to SELL!
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Price is on its way back up to Retest! I'm looking for price to come into the ( 200.14 - 200.24 ) and upon appearance of rejection Validating the Break, I will take Sell Positions!
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BRC Retail Sales Monitor came in .4% Actual v 1.2% Forecast!Even though the .4% beats last months -4.4%, the .8% miss on the Forecast is helping GJ on its way to Retest the Break of Pattern!
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JPY Monetary Base y/y came in!.9% Actual v 2.2% Forecast!!
1.3% Miss on Forecast!
Handel aktiv
Sell Entry @ 200.34SL @ 200.5
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Price pushed up to test the Break of Pattern!Already we are seeing rejection from Higher Prices!
Novi_FIbonacci
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