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GBPJPY - Trend-Following Setup!GBPJPY is overall bearish trading inside the blue channel, so we will be looking for trend-following sell setups

GBPJPY - Trend-Following Setup!GBPJPY is overall bearish trading inside the blue channel, so we will be looking for trend-following sell setups| FXMAG.COM
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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


Richard Nasr

Richard Nasr

- Full-time Trader, Coach, and Founder of theSignalyst with 400+ Students Worldwide.
- Founder of RichTL, which is the first and only indicator of its kind to help traders make Objective Technical Analysis.
- TOP author on TradingView platform
- NewsCrypto.io Ambassador and Educator
- Featured on Influencive as one of the TOP 10 Forex Mentors in 2021
- Featured on many websites like Yahoo!, Market Watch, and Digital Journal


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