GBPJPY Potential Sell Scenario

Analysis :

• Price are in up trend ,
  
• Price is close to a long term resistance zone,
  
• Price is boucing several times the rising wedge upper bound,
  
• Prince is forming a wolfe wave pattern,
  
• We will favor the Bearish scenario.
  

Sell :

• wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
  
• Initiate Sell order,
  
• Target ==> TP1 to TP3,
  
• SL above the long term resistance zone.
  

/!\** Disclaimer**/!\
The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.

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A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
***This idea is only for educational purpose. Not a financial advice***
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