GBPJPY inverse head and shoulder

22 Kas 2017

Here's what I see on GJ. Price has been consolidating down in a channel making lower-lows and lower-highs. Price has also seemed to be decelerating with a slight curve to the price action. Price tested a confluent level of fibs, structure, and trend lines recently. The retrace back down made a potential higher low that also lines up with previous fib, structure. Additionally, it may have formed the right shoulder of an inverse head and shoulder this morning printing a 4hr pinbar rejection out of the confluence area. I'll be watching closely as this potential trade progresses.

27 Kas 2017

İşlem aktif

30 Kas 2017

İşlem aktif

first trade I entered at 147.90 and was up 60 pips but was stopped out around 147.60. Once price spiked down and rejected out of the 147 area I re-entered long on a retest of 147.90ish with my stop around 147.60 again. I took partial profits at 150.20 and 152. I have the remaining portion of my position trailed in profit and will continue to structure trail.