GBPJPY: Harmonic Setup
Hello traders!
Today we have a very nice setup on
GBPJPY.
As we see on the chart the market has broken the neckline of H&S, resistance is now a support; which means we are not in a bullish trend. Currently we have 3 potential harmonic pattern.
1. Big cypher
2. Little cypher
3. Bat
According to my analyzes the best reversal zone is "PRZ 1" which is a completion levels of little cypher and bat patterns; plus OR zone. Besides there is an opportunity that price will reverse at the neckline level.
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Avto_T
Financial Analyst
rcpforex.com
Today we have a very nice setup on
GBPJPY.As we see on the chart the market has broken the neckline of H&S, resistance is now a support; which means we are not in a bullish trend. Currently we have 3 potential harmonic pattern.
1. Big cypher
2. Little cypher
3. Bat
According to my analyzes the best reversal zone is "PRZ 1" which is a completion levels of little cypher and bat patterns; plus OR zone. Besides there is an opportunity that price will reverse at the neckline level.
--
Avto_T
Financial Analyst
rcpforex.com
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