Hello TradingView Family / Fellow Traders,
On Daily: Left Chart
GBPJPY has trading inside a range in the shape of a rising wedge pattern.
Currently, GBPJPY is approaching the upper bound of the wedge pattern so we will be looking for sell setups on lower timeframes.
On H4: Right Chart
📈 For the bears to take over, we need a momentum candle close below the last major lower in gray.
📉 Meanwhile, GBPJPY would be bullish short-term and can still trade higher to test the upper orange trendline again.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
On Daily: Left Chart
GBPJPY has trading inside a range in the shape of a rising wedge pattern.
Currently, GBPJPY is approaching the upper bound of the wedge pattern so we will be looking for sell setups on lower timeframes.
On H4: Right Chart
📈 For the bears to take over, we need a momentum candle close below the last major lower in gray.
📉 Meanwhile, GBPJPY would be bullish short-term and can still trade higher to test the upper orange trendline again.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal