GBP/JPY 9.12.2016
Time frame H1
Long-term downtrend, middle-term longtrend, short-term downtrend. The price is near the upper part of the down movement to levels of diagonal resistance. Unsuccessful break of the resistance which gives us opportunity for short-term sell position.
Price action signal: Hanging man at levels of diagonal resistance
Technical indicator:
DeM(14) - Turned from a zone of overbought market - negative signal
SL: 144.50
Alternative scenario: If the price breaks out over the diagonal resistance and over FiBo 50.0 and go out from the short-term short, the negative scenario will be dismissed.
Jr_Trader_B_Arabadzhiev
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