GBP/JPY: Clear Cut Sell Signal
LiveTradingRoom | Aug 08, 2017 14:31
This morning GBP/JPY opened in a bullish tendency, then started a sideways movement around the previous daily close, as shown by the HLOC, until the bearish momentum started to pick up.
The elements that made us take the sell signals were:
- - Market Stats weekly and Monthly previsions: 68.42% and 66.67% respectively.
- - Net Change percentage confluence.
- - Market Pressure price action confluence from the scalping to the multiday level.
- - Info Panel Market negative Volume Delta.
- - Algo Zones RSI confluence below 50.
- - Power Strenght JPY 100% bullish, GBP 100% bearish.
- - Target Geometry sell signal at 144.25.
The market dropped 72 pips from the entry point piercing target 11 and could further descend during the week toward the next sell target at 142.00.
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