Price in GBPJPY looks like is breaknig below the triangle pattern it was moving in and it signals for a nice move to the down. Fist we shold wait for the breakout (not reverse) and then we should wait for a corection below the broken level.
If a setup completes i will update this post...
Like and follow for any updates of this post...
If a setup completes i will update this post...
Like and follow for any updates of this post...
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Price has retraced to the broken uptrend trendline where it was rejected. Although we may have another small wave up, with stoploss above previous high we are safe to go short.
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As a profit target we aim for the median line of the pitchfork. If price reaches the upper quartile we move stoploss at breakeven
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This setup is working great with already more than 250 pips in profit. but i believe there is more to come. No greed but i expect price to reach the median line. We might have a correction soon and then another impulsive wave to the down. To be safe you may move stoploss to BE or trail to secure a good amount of profit.
