GBPJPY, 4hr tf, pennant / flag pattern to materialized
Hello my friends,
Today was such a good day, my trade managed to hit TP for 4.4R and i banked 8.8% profit.
I started to get my edge back and i am going to post more positions for everyone to trade.
My first setup for today is GBPJPY.
To me, the recent sideways movement looks like a pennant / flag pattern and today i finally see price retest those broken support.
We could expect price to continue decline on GBPJPY as the measured objective of this pattern is 275 pips.
Nearest support is arond 136.30 area so we will try to sell GBPJPY and see if price could touch this support.
Sell GBPJPY 137.80
Stop loss 138.30
Take profit 136.30 (3R)
RR Ratio 1 : 3
Use only 1-2% profit
Good luck
Today was such a good day, my trade managed to hit TP for 4.4R and i banked 8.8% profit.
I started to get my edge back and i am going to post more positions for everyone to trade.
My first setup for today is GBPJPY.
To me, the recent sideways movement looks like a pennant / flag pattern and today i finally see price retest those broken support.
We could expect price to continue decline on GBPJPY as the measured objective of this pattern is 275 pips.
Nearest support is arond 136.30 area so we will try to sell GBPJPY and see if price could touch this support.
Sell GBPJPY 137.80
Stop loss 138.30
Take profit 136.30 (3R)
RR Ratio 1 : 3
Use only 1-2% profit
Good luck
