Refer my post of last week. This pair gave a sell this week, but I did not take it as I wanted to see the broken trendline re-tested before taking a trade and it did exactly that by the end of the week. The H4 chart also show “sideway” movement for 16 hours that was another signal that the market was undecided. The DAILY chart ended on Friday with a Hammer formation at the trendline and the Weekly closed below the trendline after re-testing the trendline break earlier in the week. I will watch how the market re-acts to the trendline with the open this week before taking a trade.

GBPJPY - FOLLOW UP 20 AUG

Source: QUEEN OF POUND

GBPJPY - DAILY - 20 AUG

Source: QUEEN OF POUND

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.