Hi everyone:
A good sell setup is forming on the GBPJPY.
WE can see the 4 hr chart has hit the resistance of 150.00, a bearish flag has formed to push the price action down.
Now, the price is consolidating above the trendline, another bearish flag forming and enter short would be a nice risk:reward trade down to recent lows.
On the higher time frame, daily chart has pulled back to form a lower high, and reject the daily 50 EMA. We can see more bearish momentum to the down side.
Thank you
A good sell setup is forming on the GBPJPY.
WE can see the 4 hr chart has hit the resistance of 150.00, a bearish flag has formed to push the price action down.
Now, the price is consolidating above the trendline, another bearish flag forming and enter short would be a nice risk:reward trade down to recent lows.
On the higher time frame, daily chart has pulled back to form a lower high, and reject the daily 50 EMA. We can see more bearish momentum to the down side.
Thank you
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Daily time frame
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