Get started
UnknownUnicorn769459

GBPJPY Long

Long
British Pound / Japanese Yen (FX:GBPJPY)  
UnknownUnicorn769459 Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Harmonic Patterns Technical Indicators GBPJPY gbpjpyshort short 4h 4hr 4hour
2
0
trendanalysis harmonicpatterns indicator gbpjpy gbpjpyshort short 4h 4hr 4hour
Downward momentum has peaked for GBPJPY. It tested and failed to break a support level today, forming a double bottom instead. It also appears to have formed an ABCD pattern. This trade is anticipating a pullback to previous support/resistance levels, which are coinciding with the fibonacci levels of the complete leg.

SL: 145.2
TP1: 147.1
TP2: 148.2
Trade closed: stop reached:
SL triggered. Will look for a re-entry confirmation.
Comment:
A reversal might be forming. Continue waiting for a confirmation.
Trade active:
We're on track.

SL: 145.2
TP1: 147.1
TP2: 148.2
Comment:
Slight pullback. GBP pairs are in good shape. Still on track.
Trade closed manually:
Going to take profits now as this pair is uncertain. At least +100 pips, more than enough to make up for the SL.
Comment:
Interestingly, it nearly hit TP2
Comment:
TP2 was hit.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.