I was analyzing GJ and i zoomed out and noticed a pattern that the pair had in 2009 to late 2012, if you look at 2017 to the present we are in that same pattern and headed in the same direction.
since april 2018 GJ had been in a downtrend and in may 2020 we started an uptrend, but the april 2018 downtrend is still valid as it hasnt broken structure. it seems as if the pair is getting into a symetrical triangle and getting ready for a breakout as its getting closer to the apex of the triangle.
i also believe thats why the pair has been moving so slowly the past few days.
but the confirmation would be if the buy structure of may 2020 breaks and holds i believe GJ will be headed to the previous support of 118.000 and history will repeat itself.
if anyone know why we're making the exact same structure of 2009 or has a theory, leave it below in the comment section.
have a great day everyone,
since april 2018 GJ had been in a downtrend and in may 2020 we started an uptrend, but the april 2018 downtrend is still valid as it hasnt broken structure. it seems as if the pair is getting into a symetrical triangle and getting ready for a breakout as its getting closer to the apex of the triangle.
i also believe thats why the pair has been moving so slowly the past few days.
but the confirmation would be if the buy structure of may 2020 breaks and holds i believe GJ will be headed to the previous support of 118.000 and history will repeat itself.
if anyone know why we're making the exact same structure of 2009 or has a theory, leave it below in the comment section.
have a great day everyone,