GBPJPY Pending Short Signal at Near Top of Trading Range
Current upward move now seems like an attempt to test the top of the trading range in blue.
if 153.80 - 154.77 proves to be a resistance zone then we should see an obvious bearish candlestick pattern in 1hr or 4hr in the next few hours.
This may be a good trigger to short to the bottom of the daily trading range around 147.70 (say short 153.70 to 147.70, we are expecting 600pips profit!)
However, if 154.77 doesn't hold, then price may be attempting 156.76 resistance.
Purely for educational only. :)
if 153.80 - 154.77 proves to be a resistance zone then we should see an obvious bearish candlestick pattern in 1hr or 4hr in the next few hours.
This may be a good trigger to short to the bottom of the daily trading range around 147.70 (say short 153.70 to 147.70, we are expecting 600pips profit!)
However, if 154.77 doesn't hold, then price may be attempting 156.76 resistance.
Purely for educational only. :)