DESCENDING TRIANGLE setup on GBPJPY

10 thg 7, 2019

For the past two months, we had seen GBPJPY on a strong downtrend moving from area of 148 to 135. Currently, the momentum is slowing down with a little bit of sideways movement. I am seeing a potential descending triangle chart pattern forming. I am waiting for the breakout of this pattern. As I wait, I will initiate a short term trade on this setup. Trade Safely!