Rounded Bottom on GBP/JPY - Reversal Signal?

Beginner Questions
1

Hey all!

I’ve just noticed what looks like a rounded bottom in the GBP/JPY 4H chart, if I remember correctly, this is a good signal of a possible trend reversal, am I correct? If anyone can tell me anything else about rounded bottoms (and tops) I’d be grateful, I’m learning price action so this should be pretty useful

rounded-bottom.jpg700×369 25.5 KB

Thanks,

Callum :slight_smile:

2

Feel there is not enough rounding.

Rounding Bottom (Reversal) - ChartSchool - StockCharts.com

http://www.trending123.com/patterns/rounded_bottom.html

3

Thanks for the great links daydreamer65! :slight_smile:

Callum.

4

I think we may see a bit more downside on this currency pair. I have been short since 158.00. got my SL at 1.5600 (as of a few moments ago) and see if I can get a bit more out of it, otherwise my SL will ensure me 200 pips.

5

Thanks Rambo35! Good luck with your trade! :slight_smile:

Callum.

6

by looking at the candles, it seems that there are more buyers pushing up the price rather than what myth “big fat bottom”. :58: