GBPJPY SHORT OUTLOOK
Quick Overall Idea.
A&B = Double Top
C = Most likely position that most retail traders took positions and the price had to go down to validate and come back to point B to stop them out. Most Technical analysts recommend taking positions when a trendline is broken and price bounces behind a trendline (Point C).
My outlook is taking SHORT after stops have been hit to 162.50.
A&B = Double Top
C = Most likely position that most retail traders took positions and the price had to go down to validate and come back to point B to stop them out. Most Technical analysts recommend taking positions when a trendline is broken and price bounces behind a trendline (Point C).
My outlook is taking SHORT after stops have been hit to 162.50.
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