GBPJPY

I used Support and Resistance to observe points of interest and we can see each price si respected with a previous support or resistance, at first there's a perfect flag been completed, measured impulse by placing 0.236 at the top of consolidation and traded up trend to -0.27.

After flag there was to much consolidation and formed an Ending Channel, on this cases after to much consolidation there's a clear impulse as we can see how price reacted at top, observe points of interest with fibonacci retracements between 0.5 - 0.618.

Also MACD shows divergence by going up trend on charts and down trend on the indicator, it tell's us there's a bearish impulse about to happen.
Good Trading. -4h Chart

Commentaire:

Trade has been completed!