Market Outlook and Analysis (Nov2019 Week4)
Currency Pair: GBPJPY
Technical Analysis – GBPJPY
GBPJPY D1 Chart: Potential Bearish Bat Completing higher
The initial Bearish Bat pattern spotted is still valid. All eyes on the Continuation Triangle Symmetrical Pattern for the rally higher to complete the Bearish Bat pattern. Daily RSI staying above the 50 line, maintaining my bullish bias.
GBPJPY H1 Chart – Patterns on the H1 giving trading opportunities
We now have a Bearish Bat pattern on the H1 Chart. However, this pattern does not meet our Time Zone criteria. Hence caution is in the air. Will monitor this closely at the start of the trading week. If this pattern does fail, then this could be the move that breaks the Daily Triangle.
Announcement
Hi Everyone,
Question…. Do you get the Monday blues each week? If you do, high chance you don’t really like your job. Why not take up trading more seriously and be less reliable on your main source of income.
We are having a 3hr workshop in Singapore on the 26th November 2019 (7pm to 10.30pm). Calling out to those of you who are:
- Working adults who are jaded from your daily lives and looking for an alternative
- Traders who has been trading for over a year and have not achieve the results you desire
- Wanting to make a difference to their financial goals
Stop procrastinating, register HERE NOW and come and see how we trade the market. Bring along an open mind to think out of the box to be successful in trading.
Please share with your friends whom you think will benefit from this too. Join us, we are building a close knitted community of successful traders.