GBPJPY Back to the Top, Reversal Bearish Price Action

Hello traders:

GBPJPY has once again move to the top of the higher time frame structure, and with the lower time frame bearish price action, there could be opportunities for further sells.

Here we can see a larger, channel like structure, correcting the price.

There was a sharp bullish impulse up to the top of the structure, and initially was looking to have more continuation up.

Instead, a sharp bearish reversal impulse down from the smaller ascending channel. Great signs of bearish reversal price action.

To confirm the entry, price needs to form bearish continuation correction after impulse down, to validate the reversal price action from the top.

HTF:

thank you

評論: