on H1: GBPJPY is forming a channel in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that third swing to form then sell after a momentum candle close below it. (gray area)
Meanwhile, until the sell is activated, GBPJPY can still trade higher till the green resistance, where we will be looking for new sell setups to form.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
