GPB/JPY - Short into 132.64

Here we have a clear Head & Shoulders pattern at a Key Area. Price has broke out of the neckline and has now formed a Bear Flag. We have rejected further upside with another Head & Shoulders pattern visible on the LTF's. I now have enough confluences to take this short into 132.64 which is a key area where price previously broke out of in the form of a Large Bull Flag. 1:1.88 RR.

Trade active:

Target achieved. Closed 50% of the position. Now to see how price develops from here.

Comment:

*75% of the position was closed... not 50%. Leaving 25% as there's still plenty of room to the downside yet.

Trade closed: target reached