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enzobalardini

GPBJPY wedge breakout, retest and confirmation.

Long
British Pound / Japanese Yen (FX:GBPJPY)  
enzobalardini  
FX:GBPJPY   British Pound / Japanese Yen
Chart Patterns Wedge Support and Resistance GBPJPY wedgebreakout breakout retest-structure
2
0
chartpattern wedgepattern supportandresistance gbpjpy wedgebreakout breakout retest-structure
GPBJPY was forming a neutral wedge, which it broke out from towards the downside. After waiting for a retest, price broke through our resistance and had a retest towards the upside. After confirmation from the retest, a buy was placed for a r/r of 11/1.

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