Hello Traders, A potential reversal might be setting up on the high volatility pair #GBPJPY as the market is showing early signs of exhaustion. Before doing anything wait for bullish conformation, such as a bullish Engulfing Signal and/or a clear close above the T-Line. The T-Line (or Trigger Line) is the 8 exponential moving average which is the BLACK line on...
The pink char looks like a sleeping dragon, I still wait for the AWAKENING- BOOM 2016
Short the close under the Black Dragon
The Inverse Dragon pattern: A significant close below the trendline triggers the first short trade. A close below the hump line confirms the Dragon and signals another short trade.
Good risk reward ratio.... stops a 193.60
Just the title of the pattern explains enough. This is one of the geometric pattern, pretty complex but it has been working fine for me these past days. It looks more perfect when incorporated with the MACD divergence. I have come down into a conclusion that the market will be going long. The bears will be looking for support around 0.96814 Note: Fundamental...
Dragon breaking through 1st line of resistance, next is to break B point. Only Long positions should be considered from this point on.