gbpjpy 4h advanced xabcd setup short from resistance

gbpjpy 4hour chart review/outlook, speculative advanced
xabcd setup in progress, short-term expecting more upside
so higher risk strategy would be buy/hold at market and
bulls will target point C at 165.75. However, I recommend
to at least wait for point C to get printed before entering
any trades in gbpjpy.

xabcd pattern is defined by point X at 157.80, point A
at 163.80, point B at 159.40, point C at 165.75 and finally
point D at 155.80 (extension).

Recommended strategy in gbpjpy: wait for price to max
out near point C at 165.75 and enter short trade, tp bears
is point D at 155.80. use other indicators to confirm reversal.
always do your own due dill and use conservative SL.

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評論:

gbpchf h4 range locked short high from resistance