HEAD AND SHOULDERS ON GBPJPY DAILY, WE ARE SHORT
After a tremendous rally, we have seen a great deceleration forming a Head and Shoulders formation on the daily chart. Being the head in a monthly key level.
Now the price is just below the weekly level of 145.
If we want to add some confluences, we can see the sell set up/flag pattern formed on the H1 chart.
The tp will be at the next monthly level, which coincides with the -61.8 fib extension. This would also be the C leg of the big wave formed since early november.
I will enter this trade as the market opens on Sunday night.
Hope you all a great trading week.
Now the price is just below the weekly level of 145.
If we want to add some confluences, we can see the sell set up/flag pattern formed on the H1 chart.
The tp will be at the next monthly level, which coincides with the -61.8 fib extension. This would also be the C leg of the big wave formed since early november.
I will enter this trade as the market opens on Sunday night.
Hope you all a great trading week.
Trade closed: target reached
