gbpjpy 4h advanced xabcd setup short from resistance

gbpjpy 4hour chart review/outlook, speculative advanced
xabcd setup in progress, short-term expecting more upside
so higher risk strategy would be buy/hold at market and
bulls will target point C at 165.75. However, I recommend
to at least wait for point C to get printed before entering
any trades in gbpjpy.

xabcd pattern is defined by point X at 157.80, point A
at 163.80, point B at 159.40, point C at 165.75 and finally
point D at 155.80 (extension).

Recommended strategy in gbpjpy: wait for price to max
out near point C at 165.75 and enter short trade, tp bears
is point D at 155.80. use other indicators to confirm reversal.
always do your own due dill and use conservative SL.

🎁Please hit the like button and
🎁Leave a comment to support our team!

RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

Commentaire:

gbpchf h4 range locked short high from resistance