GBPJPY Analysis - No Opportunity
There are just too many probabilities in this market at the moment:
(1) Currently, it has reached a resistance level as shown from the three tops areas.
(2) Secondly, there seems to be formation of a Bilateral Ascending Triangle which usually dictates that a market in such a situation could take up any direction when it has completed the formation of that triangle.
(3) Thirdly, there also looks to be formation of a Rising wedge which is usually an indication of a reversal.
With these in mind, I wouldn’t open a position with such uncertainties. I’d probably wait to see a Bearish or Bullish Engulfing candlestick pattern, to give me the go-ahead to open a position.
(1) Currently, it has reached a resistance level as shown from the three tops areas.
(2) Secondly, there seems to be formation of a Bilateral Ascending Triangle which usually dictates that a market in such a situation could take up any direction when it has completed the formation of that triangle.
(3) Thirdly, there also looks to be formation of a Rising wedge which is usually an indication of a reversal.
With these in mind, I wouldn’t open a position with such uncertainties. I’d probably wait to see a Bearish or Bullish Engulfing candlestick pattern, to give me the go-ahead to open a position.
Clause de non-responsabilité
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.