GBPJPY analysis

FX:GBPJPY   Pound British/Jepun Yen
A bearish pennant has formed over the past year and on the 4hr time frame price has made a double top . Looking for shorts very soon.
do you think there is still room for upward moves, the sell offs on the short would be pretty powerfull aswell
@aadeojo, Definitely, the rising wedge has been in the making for a while and this is also just my long term analysis
allocated609 allocated609
@allocated609, The stop loss I placed was under the assumption of more bull moves
aadeojo allocated609
@allocated609, Yeah if its gonna drop, it would go with a bang, I feel it might break that resistance from April 7th, a false breakout or something. great analysis. how long do you hold trades?
@aadeojo, My trades vary but usually no longer than a week, I didn't post this as a trade setup though. I mostly just wanted to point out what may happen over a long period
aadeojo allocated609
@allocated609, Same, Its good to see the higher time frame trends.
@aadeojo, Yessir I agree. Wouldn't surprise me if GJ price hits upper TL in my setup before the fall. Only time will tell
aadeojo allocated609
@allocated609, lol,(i actually laughed out loud) I never thought of that saying while trading but very true. only time will tell, such is life.
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